FXEM - EMPIRE MARKETS - Company New Article

Gold is currently trading at $2918 per ounce, trying to consolidate after a wave of volatility affected by the strength of the dollar and the rise in US bond yields. The yellow metal is still facing strong resistance at $2930, which if broken could extend the rally towards $2950. On the downside, a break of $2900 could increase selling pressure, pushing prices towards $2880. Gold’s movements remain linked to the upcoming US inflation data, which could significantly impact the Fed’s interest rate outlook.

Oil is currently trading at $67.58 per barrel, declining amid pressures from a strong dollar and concerns about slowing global demand. The price faces resistance at $68.20, which if broken could push prices towards $69.50. On the other hand, breaking the support at $67.00 could lead to further decline towards $66.20. Oil movements remain linked to global supply developments and the US inventory data expected this week.