Gold

After achieving new highs, gold quotes began to decline, eventually overcoming the support range of $2650-2665. The next support zone can be found near the $2630 mark.

Oil

The support range that we wrote about earlier and that hindered the reduction of quotes ($67.00-67.80) remains relevant. At the beginning of the week, the price is testing it again. Oil prices continue to fall for the third month in a row due to strong supply and uncertainty from demand, despite fears of possible escalation of conflict in the Middle East.

Also, let us remind you that today the speech of the Chairman of the US Federal Reserve, Jerome Powell, is expected. The rhetoric of the speech may reflect on the exchange rate of the US national currency and, consequently, on the quotes of both gold and oil.