Gold & Oil - Review 08/13/2024

Financial and commodity markets analytics

Gold

Gold quotes, after yesterday's growth, remain in the resistance zone located above the $2,450 level.
Until the highs are overcome and the steady consolidation above the $2,480 level, the option of resuming the decline remains a priority.

Oil

Markets are preparing for the publication of data from the United States, which will give an idea of inflation, while OPEC on Monday lowered its forecast for oil demand growth for 2024.

Oil prices stabilized on Tuesday after rising for five consecutive sessions. The quotes are in the area of the resistance zone, located near the $78.50 mark.
Further developments will depend on the behavior of traders in this area, as well as on the published news and the geopolitical situation.