Gold and Oil - Review from 06.09.2024

Financial and commodity markets analytics


Gold

On Friday, the price of gold remained below the weekly peak, but is targeted for a weekly increase. The movement is developing amid investors' attention to US employment data, which could affect the size of the expected decrease in the interest rate this month. Key to making trading decisions will be the behavior of the price relative to the historical high in the area of $2530.

Oil

In the oil market, traders are being cautious before the publication of key data in the US, while also assessing the decrease in oil reserves in the United States and the delay in increasing production from OPEC+ producers. Quotes are still in the area of the global support zone.