Gold and Oil - Overview as of 11/27/2024

Financial and commodity markets analytics

 

Gold

 

Against the background of consolidation of the US dollar against other assets ahead of the publication of significant indicators of economic statistics, the decline in gold quotations also stalled. The market found a balance in the zone of $2630 mark. The release of data may lead to the resumption of price volatility growth.

Oil

OPEC+ is discussing further postponement of the planned oil production increase that was supposed to start in January, two sources from the group said. Also, according to a Goldman Sachs note, the growing compliance with production cuts among OPEC+ member countries points to their joint efforts to stabilize prices. Nevertheless, technically, the price continues to test the support zone.