FXEM - EMPIRE MARKETS - Company New Article

Gold is trading at $2914, benefiting from safe haven demand, but facing pressure from rising bond yields. Volatility remains as markets await US inflation data that could impact the Fed’s interest rate outlook.

Technically, gold faces resistance at 2925, which could push the price towards 2950 in case of a breakout. While the 2895 level is an important support, a break of it could increase the downside pressure towards 2875.

Gold’s direction remains linked to the movements of the dollar and bond yields, as markets await any new signals on US monetary policy.

Crude oil is trading near $70.65 per barrel, affected by selling pressures resulting from rising US inventories, along with concerns about slowing global demand. However, geopolitical tensions and OPEC+ production cuts could limit losses and provide some support to prices.
Technically, oil faces resistance at 71.20, which could push the price towards 72.50 if breached. On the other hand, the 69.80 level is an important support, and breaking it could increase the downward pressure towards 68.50.

Eye remains on the US inventory data and the upcoming OPEC+ meetings, which could significantly affect the price path in the coming period.