Gold price holds above $3000.00 and WTI crude price holds steady
Gold has held firm in early trading, while oil prices have shrugged off the weakness seen on Friday.
Gold
Last week saw the spot gold price hit a fresh record high, while brief weakness on Friday was halted at $3000.00 as support. A renewed move higher targets last week’s high at $3057.00, and then on to new record highs. Sellers will need a close back below $3000.00 to suggest a more sustained leg lower is underway.
WTI
The counter-trend bounce has continued for WTI crude oil prices, and buying this morning has negated any expected continuation of the weakness seen overnight. A close back below $67.00 might suggest that a lower high has been created, which could put the price back on course to test $65.00. Further gains target $70.00, and then $73.00.
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