Gold and Oil - Review from 04.11.2024

Financial and commodity markets analytics


Gold

Gold prices continue to test the range of $2715-2745. The metals market, like most others, is waiting for the outcome of the U.S. elections and the Federal Reserve's decision on the key interest rate. The range of $2640-2680 may serve as a support zone, in case of a further decline in quotes.

Oil

Oil prices are trying to continue their rise on Monday, against the backdrop of OPEC+ decision to delay plans to increase production for a month. If the local maximum in the region of 72.30 is overcome, the price might face resistance in the range of $73-74.