FXEM - EMPIRE MARKETS - Company New Article

Gold is trading near the $2940 per ounce level, facing pressure from a strong dollar and markets awaiting developments in US monetary policy. Interest rate expectations continue to play a major role in the precious metal’s movements, as any signs of continued monetary tightening could cap its gains. If gold manages to break $2950, ​​it could open the way to test $2970, while key support remains at $2920, a break of which could lead to further declines.

Oil is trading around $70.74 per barrel amidst volatility driven by a combination of economic and geopolitical factors. Weak global demand outlook, especially as concerns over a slowdown in China’s economy persist, is weighing on prices. Meanwhile, any signs of additional production cuts by OPEC+ could provide some support. Technically, $71.50 remains a key resistance, with a break above it potentially pushing prices towards $73.00, while $69.50 is a key support, with a break below it potentially extending losses towards $68.00.