Gold

The decline in gold prices that has begun, at the moment, has not been developed. The price develops a sideways movement in the middle of the range and the longer prices stay in place, the more difficult it is to predict the further direction. This is due to the volume of new positions being opened by participants and the deferred supply and demand of traders remaining out of positions and waiting for entry conditions. A possible strategy may be to search for entries into positions from the edges of the range, with understandable, limited risks: sales from the $2450-2470 level zone; purchases from the $2330-2300 zone. However, it will be possible to make a decision on the expediency of entering a position only in real time, depending on price dynamics, volatility and related fundamental factors.

Oil

Oil prices remain near a six-week low today as traders await new market balancing signals, including forecasts for U.S. oil reserves. West Texas Intermediate (WTI) is near the $78 mark. In the coming days, data from the American Petroleum Institute (API) is expected to be published on weekly changes in oil reserves in the United States, followed by official information from the government. In the last three weeks, oil reserves in the United States have decreased, reaching the lowest level since February. Despite the recent decline, oil prices have remained at a high level since the beginning of the year due to a reduction in supply from OPEC+ and expectations of lower interest rates in the United States, possibly as early as September. However, political risks remain relevant.
The local support zone around $77.5, which the market failed to overcome the first time, remains relevant for now.