Gold price and natural gas price make gains, WTI crude price under pressure
Gold and natural gas have made further gains so far today, but oil prices are drifting lower.
Gold price recovery goes on
The spot gold price continues to recover after the losses suffered on Monday.
Despite the heavy drop, buyers have returned to defend the $2600.00 level, halting any further downside. Further gains now target the high from last week at $2720.00, and then beyond this the October record high comes into view.
WTI drifts lower after Thursday’s bounce
The brief recovery yesterday has come under further pressure as US traders return from the Thanksgiving holiday.
The WTI price began the week on the back foot, and has continued to decline, back below $70.00. Further declines target the $66.75 area, which formed support in late September and in October and November. Overall, the broader downtrend is still in place, as the failure of recent bounces shows.
Natural gas heads higher
The natural gas losses of the past week were halted yesterday, and the recovery above 3200 could point the way to a fresh push back to the November highs.
Buyers have been in control for most of the past four months, and dips in October and early November were met by fresh buying. A close back below 3200 might signal that some short-term weakness is ahead.
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