Today, on July 12, 2024, oil and, in particular, gold quotes show significant changes after the publication of inflation data in the United States.

Gold: The price of gold has risen to more than $2,400 per ounce. The publication of inflation data in the United States, which showed an increase in the consumer price index (CPI), caused an increase in expectations for a reduction in interest rates by the Federal Reserve (FRS). In anticipation of monetary policy easing, investors view gold as a protective asset, which entails an influx of funds from market participants and an increase in its value. Despite the correction after the initial jump, the gold price is holding above the $2,385 level zone, which served as a resistance. However, the growth is limited by the stronger $2,400—2,450 zone - the upper limit of a wide range, which is unlikely to be rapidly passed.

Oil: Oil prices also showed positive dynamics, although the growth was not so impulsive and was significantly leveled today. Data on oil reserves in the United States showed an unexpected decrease, which supported the quotes. Additionally, moderate inflation data contributed to an improvement in oil market sentiment, as they suggest a continuation of moderate monetary policy and steady demand for energy resources.