Gold and Oil - Overview as of 20.12.2024

Financial and commodity markets analytics


Gold

Gold prices are aiming for a weekly decline on Friday after the Federal Reserve's decision to slow the pace of interest rate cuts pressured the market. Investors' attention shifted to the data on personal spending of consumers in the United States, which will be published later. In case of quotations decrease, the zone near the mark $2565 can act as a local support.

Oil

Oil prices declined on Friday amid concerns about demand growth in 2025, especially in China, which is the world's largest oil importer. This led global oil quotes to target a decline of nearly 3% for the week. The price remains in a narrow range above a meaningful support zone.