FXEM - EMPIRE MARKETS - Company New Article

Gold is currently trading at $2916 per ounce, trying to consolidate after the previous session’s volatility. The general trend is still affected by the movements of the US dollar and bond yields, as gold faces resistance at 2925 – 2940, which it needs to break to enhance the upward momentum. On the other hand, any break of the 2900 level may push the price to test the next support at 2880.
The markets are awaiting important US economic data this week that may determine the next direction for the precious metal, especially in light of the continued uncertainty regarding the US Federal Reserve’s monetary policy.

Oil is currently trading at $67.28 per barrel, down on pressures from economic concerns and weak global demand. The price remains in a bearish range, with a major resistance at 68.50 – 69.00, which it needs to break to regain upward momentum. On the other hand, any break of 66.80 could increase selling pressure and push the price towards 65.50.

Markets are awaiting US inventory reports and OPEC+ decisions, which could have a significant impact on price action in the coming days.