Gold and Oil - Overview of 20.11.2024

Financial and commodity markets analytics


Gold

Gold prices rose for the third consecutive day, reaching a one-week high on Wednesday, amid a weaker US dollar. Resistance to the growth may be met in the range: $2650-2710. The support range mentioned earlier remains valid.

Oil

Against the background of geopolitical tension and weakening of the US dollar, oil prices remain stable, however, the growth of quotations is not observed. The factor temporarily affecting the volatility may be the publication of data on inventories in the U.S., expected at the beginning of the North American trading session on Wednesday.