Gold and Oil - Overview as of 11/26/2024

Financial and commodity markets analytics


Gold

On Monday, gold quotes developed a local downtrend from the previously described resistance range: $2650-2710. Additional pressure on the market was exerted by the demand for the US dollar, provoked by the statement of the elected President of the United States Donald Trump regarding the upcoming changes in tariff policy. If the decline continues, the target may be a test of the price range: $2530-2570.

Oil

Oil quotes continue to remain in the range. Nevertheless, on the eve the price has noticeably decreased, being under pressure due to the general strengthening of the US dollar and against the background of reduced fears of escalation in the Middle East.