Gold (XAU)
Key news events today
No major news events.
What can we expect from Gold today?
Spot gold prices stayed above the $1,970/oz overnight before rising quite strongly towards $1,985/oz as Asian markets came online. With the US dollar also selling off aggressively, this decline could also function as a bullish catalyst for this precious metal as gold and the greenback typically share a negative correlation.
Next 24 Hours Bias
Medium Bullish
Oil
Key news events today
No major news events.
What can we expect from Oil today?
Crude oil prices rose on Tuesday as fighting between Israel and Hamas, particularly missile attacks from both sides, continued this week. With focus shifting to a potential ground assault by Israel on the Gaza trip, geo-political tensions remain high. WTI oil found support around the $85.00 per barrel mark overnight to climb towards $87 this morning. WTI prices could remain above the $85-level while any further escalation could drive prices towards the recent high of $89.30 per barrel.
Next 24 Hours Bias
Weak Bullish