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Asia – Commodities Fundamental Analysis | 14 November 2023

Gold (XAU)

Key news events today

CPI (1:30 pm GMT)

What can we expect from Gold today?

Previous CPI data maintained at a rate of 0.3%, and since we are approaching the end of the year, we can expect the rates to maintain at a rate of 0.3% until the FOMC meetings in December. Since rates may be maintained, we can expect a decrease in price for the dollar index (DXY), which could mean that the price for Gold will increase.

Next 24 Hours Bias

Weak Bullish



Key news events today

No major news events.

What can we expect from Oil today?

Oil prices inched up on Tuesday after an OPEC report said market fundamentals remained strong and due to concerns supplies might be disrupted as the U.S. cracks down on Russian oil exports.

Brent crude oil rose to $82.85 a barrel, and WTI crude oil rose to $78.59 a barrel.

We can expect further bullish momentum, for oil prices to increase as it has broken past a resistance level, along with the positive market fundamentals.

Next 24 Hours Bias

Medium Bullish