Gold and Oil - Review as of 31.10.2024

Financial and commodity markets analytics


Gold

Gold quotes have risen to a record high on Thursday, reaching a seven-month peak due to the demand for safe assets in the lead-up to the presidential elections in the United States. At the same time, investors and traders are awaiting the inflation report in the US to get information about the potential dynamics of interest rates.

Oil

Oil quotes are beginning to develop the expected upward movement from the support zone. However, the dynamics do not yet look confident, and considering the expected news publications in the U.S., traders need to be cautious in their forecasts. Repeated tests of the support zone cannot be ruled out.