Gold
On Thursday, gold prices declined amid the strengthening of the dollar after gold reached two-week highs in the previous session following statements by Chairman of the US Federal Reserve Jerome Powell about a possible interest rate cut in September. Now the market's attention is shifting to Friday's employment report in the United States.

Technically, gold prices are implementing the second of the scenarios described yesterday, updating the local maximum around the $2,430 level and starting a wave of decline from the resistance zone located above the $2,450 mark.  As we mentioned earlier, the goal of the decline may be to update the local support zone around the $2,350 level and test the $2,300 level zone. However, this does not mean that the decline in quotations will begin immediately, from the current levels. Given that the impulse price decline has not happened today, before the decline, the price may well test the maximum reached the day before.

Oil
The weakness of sellers in the oil market remains obvious today. We can draw a conclusion about this based on the inability of the market mentioned yesterday to overcome an insignificant local support zone around the $74.50 level, as well as based on the impulse growth of quotations that arose after the test of this zone. Support for oil prices, among other things, could be provided by the rhetoric from the US Federal Reserve, suggesting a reduction in the key rate. The search for situations to buy, at the moment, looks more attractive relative to sales. However, this requires appropriate conditions, taking into account the risks acceptable to the trading system.