On February 24, during the Asian trading session, gold prices have been relatively stable, trading around $2937.04 per ounceThe previous Friday saw the price of gold fluctuating as investors took profits after reaching record highsAt one point, gold slipped to approximately $2916.66, but the ongoing tariff plans in the United States attracted buyers looking for favorable entry points along with risk-averse purchases, leading to a closing price of $2936.17 per ounceThe weekly performance marked an increase of about 1.85%, marking a significant eighth consecutive week of gainsSurveys indicate that the majority of analysts and retail investors remain bullish on the future performance of gold.

This week's economic calendar is more active than usual, as market participants are keenly monitoring the fallout from the results of Germany's parliamentary elections held on SundaySuch events can have far-reaching implications not just for Europe but also for global financial markets, particularly concerning interest rates and currency valuations.

Upcoming economic releases include the U.SConsumer Confidence report for February scheduled for Tuesday, followed by data on new home sales for January on WednesdayThursday will provide a host of significant data, including the revised fourth-quarter GDP figures for the U.S., January’s durable goods orders, and weekly unemployment claims, topped off by existing home sales dataHowever, the spotlight will primarily be on Friday’s release of the U.SCore Personal Consumption Expenditures (PCE) Price Index alongside the personal income and spending for JanuaryThis Core PCE index is a favored inflation gauge of the Federal Reserve and is expected to provide valuable insights into future interest rate trajectories, which are pivotal for gold traders.

Analyzing the gold market on February 24, trading commenced with gold opening at around $2938. After a slight uptick in the Asian session leading to a short-lived peak pressure at $2940, the price began to fall

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European trading saw further declines as it approached a support level around $2917. The American session maintained a high-level oscillation, closing with a small bearish candlestick that formed a long lower shadowThe daily chart shows that the Bollinger Bands are still in an upward opening trend, with price action oscillating at higher levelsThe moving averages, MA5 and MA10, are diverging upwards, indicating bullish momentum, supported by an expanding MACD histogramAdditionally, the KDJ indicator shows a bullish crossover, suggesting that the long-term outlook remains favorable for further upward movementToday's strategy is to look for buying opportunities below the $2930/$2932 range with a stop-loss of $6.5, targeting $2945, $2962, and $2990.

Continuous monitoring is critical, especially when testing support levels around $2917/$2919, where again a buy position could be advisable with similar stop-loss guidelines and upward targets around $2934 and $2952. Conversely, for bearish positions, resistance near $2992/$2994 should be targeted, employing a stop-loss of $6.5, with downside objectives targeting $2980, $2972, and $2960.

Moving to silver, the opening on the previous trading day stood at approximately $33. After a minor rally during the Asian trading session, prices fell, and during the European session, a gradual decline was noted, continuing into the American period wherein a peak was followed by a retreat, concluding the day with a bearish candlestickOn the daily chart, the Bollinger Bands are constricting, with the price continuously testing the upper resistanceThe MA5 and MA10 averages are at the mid-band level and diverging upwards, implying some bullish strengthThe MACD indicator shows a decreasing momentum, and KDJ is indicating a bullish crossover, indicating potential for further upward movement in silverToday's strategy would involve positioning for a low-buy near the $32.32/$32.48 range, with a stop-loss at $32.15 and upward targets set at $33, $33.54, and $34.

In addition, any tests of $31.85/$32 can present itself as a buying opportunity with a stop-loss of $31.62 and upward targets around $32.57, $33.12, and $33.68. On the other hand, sellers could position themselves near $34/$34.27 with a stop-loss at $34.48 and a downside target around $33.52 and $33.

As for crude oil, trading previously opened near $72.49. Following a slight increase to a daily high near $72.7, prices began to slide downward, experiencing a downturn through the European session, and closing near a low of $70.13 after a significant retreat

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