Gold prices succeeded in achieving gains of more than $150 in two weeks as a result of the continuation of the conflict in the Middle East and amid high expectations that interest rate increases by the Federal Reserve are nearing their end.
Geopolitical concerns increase the possibility that gold may continue its rise and overcome previous historical resistance levels near $2080 per ounce.
Figure 1: XAUUSD, Metatrader5, CFI
Oil prices, on the other hand, have risen for the second week in a row, due to concerns about supply disruption if the current conflict escalates into a larger conflict in a region that is responsible for more than 30% of global oil supplies,
In addition to its regional importance in providing safe paths for transporting shipments. Oil prices are now rising in several places around the world, and investors are waiting to see if Brent crude oil can break through the resistance region near $96 per barrel.
Figure 2: Brent, Daily Chart, Metatrader5, CFI
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