Gold

Gold prices ended the week with their best gains in a year thanks to demand for safe-haven assets amid geopolitical tensions. The spot price of gold rose 5% over the week. Economic risks and expectations of a rate cut by the US Fed are supporting the metal's appeal. The price is now in the previously mentioned range of $2650-2710, which may act as resistance. However, at the moment, there are no signals to stop the growth.

Oil

Donald Trump's return to power may increase support for the oil sector. During his first term, US oil exports rose from 600 thousand barrels per day in 2016 to 3.2 million in 2020, and LNG exports increased more than 10-fold. However, the impact of policy is limited: global markets and technology remain key drivers.