Gold price at new high while oil price struggles and natural gas price rises
Gold has surged to a new high, but the bounce in oil prices has stalled and natural gas prices have moved higher.
Gold at new record
The spot gold price soared to a new record high yesterday, having broken out of the narrow trading range on Wednesday.
$3000.00 is now the clear target to the upside, and we may see further buying pressure that pushes the price beyond this. In the short-term, a close back below $2900.00 is needed to suggest that the price has reversed course.
WTI tries to rise
While the WTI crude oil price has rallied off the lows of the week, it has struggled to push higher.
The 7 March high at $68.00 is the first target, with a close above here helping to reinforce the view that a low has formed for the time being. Sellers will need a reversal back below $66.00 to suggest further moves to the downside.
Natural gas stabilises after losses
While the natural gas price fell back to almost a two-week low yesterday, it has stabilised at 4000 and has edged higher this morning.
Continued gains would point towards a new leg higher that brings the 4800 high into view once again. A close back below 4000 brings the early March low at 3800 back into play.
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