Gold and Oil - Review from 09/13/2024

Financial and commodity markets analytics


Gold

Quotes have exceeded the range, reaching historical highs. The increased expectations of a reduction in the key rate by 50 basis points by the US Federal Reserve provided additional support to gold and pressure on the US dollar. The further course of events will significantly depend on the decision made next week.

Oil

Oil prices continue their rally on Friday. Disruptions in production in the Gulf of Mexico following Hurricane Francine, which forced the evacuation of drilling platforms, acted as a trigger. At the moment, the price confidently stands above the support zone.