Gold and Oil - Review from 24.10.2024

Financial and commodity markets analytics


Gold

Gold quotes failed to secure above the $2750 mark and a subsequent sell-off reduced the prices by $40. At the moment, a clear directionality is absent and a consolidation is taking place. This could be related to awaiting news from the US, the publication of which is scheduled for Thursday.

Oil

The previously mentioned growth target around the $70.50 mark was achieved and after adjustment, the price continues to increase. Significant resistance may be encountered closer to the $75 level, however, the range of $73-74 may hinder the rise in quotes.