Gold prices exhibit high volatility in the background of the final speech of the Fed.

In today's speech to parliament the U.S. Federal Reserve Chairman Ben Bernanke said the U.S. central bank must make transparent and understandable.

At the same time Bernanke said that a sharp drop in crude oil prices over the past few months has led to a decline in inflation in the country. It is expected that the inflation rate this year is 1.2% -1.7%, lower than the planned mark the Fed at 2%.

In addition, Bernanke said the U.S. economy continued its recovery in the first half, but economic activity in the country a little bit weak.

One of the main purposes of the Federal Reserve is to ensure price stability and to achieve "progress" in the labor market. Bernanke said that there are signs of improvement and the QE program was "productive."

At the same time, he emphasized that monetary policy is not a panacea, and fiscal consolidation should be carried out in stages.

August gold futures on the COMEX is trading today in the range of 1567.2 - 1585.7 dollars per ounce.

Resistance of 3:1615 (resistance line from Jun 6)

Resistance of 2:1610 (area of Jul 6 high)

Resistance of 1:1600 (area of Jul 10 and 17 highs)

Current Price: 1578.70

Support 2:1562 (support line from May 16)

Support 2: 1548 (low of June)

Support 3: 1527 (low of May)

Oil rose for a sixth day, exceeding $90 a barrel for the first time since May, as U.S. housing starts rose more than forecast and gasoline inventories fell.

Prices advanced along with equities after the Commerce Department reported housing starts rose to a 760,000 annual pace in June. Gasoline stockpiles declined 1.82 million barrels last week, the Energy Department reported. Analysts had expected an increase of 1.2 million.

Oil for August delivery rose to $90.04, the highest level since May 30. Prices are down 9 percent this year.

Brent crude for September settlement increased $1.27, or 1.2 percent, to $105.27 on the London-based ICE Futures Europe exchange.

Resistance 3:95,00 (61,8% FIBO 106,10-77,20)

Resistance 2:91,70 (50,0% FIBO 106,10-77,20, Jun 29 high)

Resistance 1:90,40 (top line of up channel from Jul 12)

Current Price: 89.34

Support 1:87,20 (session low, bottom line of up channel from Jul 12)

Support 2:87,20 (Jul 17 low)

Support 3:86,20 (Jul 16 low, MA (200) for H1)

Change % Change Last

Gold 1,583 -9 -0.57%

Oil 89.17 +0.74 +0.84%