Gold and Oil - Overview from October 18, 2024

Financial and commodity markets analytics


Gold

Gold quotes have once again refreshed their historical maximum. At the moment, there are no benchmarks in the market that could predict the beginning of a downward phase. If prices fall, the nearest support zone could be in the range of $2670-2685.

Oil

The price of WTI remains above the support zone. From the current positions and, in particular, after testing the zone of $67-68.50, traders may consider buying positions. However, it is necessary to take into account the risks associated with the end of the work week and break for the weekend.