FXEM - EMPIRE MARKETS - Company New Article

Gold is currently trading at 2891.00 per ounce, having witnessed a slight decline during the session with the rise in US bond yields and the strength of the dollar. This comes amid markets awaiting US inflation data, which may determine the Fed’s direction regarding interest rates, which directly affects gold’s movements.

• Stabilizing the price above 2900 may enhance the chances of rising towards 2930.
• On the other hand, breaking 2860 may open the way for further decline towards 2845.

Gold remains sensitive to any developments in monetary policy, as current support and resistance levels are pivotal in determining the next direction.

Oil is currently trading near $72.80 per barrel, after witnessing a slight decline amid pressure from the strength of the US dollar and the markets awaiting US inventory data this week. Expectations of slowing global demand and energy market volatility also affected price movement.

• Stability above 73.50 may push prices towards 75.00.
• On the other hand, breaking 72.30 may increase downward pressure towards 70.80.

Oil remains affected by supply and demand developments, in addition to OPEC+ decisions and concerns about slowing global economic growth.