Gold and Oil - Overview as of 10.12.2024

Financial and commodity markets analytics

 

Gold

 

Gold rose to $2690 per ounce, showing growth for the second consecutive session. Prices were supported by a policy shift in China, where the Politburo announced the easing of monetary policy for the first time in 14 years, which increased interest in commodity assets. China's central bank also increased gold reserves for the first time in seven months, boosting demand. An additional growth factor was geopolitical risks associated with the fall of the Syrian government, which stimulated demand for protective assets.

Oil

WTI crude trades around $68.1 a barrel, holding gains after rising amid a worsening situation in the Middle East and China's pledges to increase economic stimulus. The fall of the Assad regime in Syria added to geopolitical risks, supporting prices. Additional support was provided by China's plans for active fiscal measures and monetary easing, which reinforces expectations of demand growth. Investors are also waiting for US inflation data, which may influence further decisions of the Federal Reserve.