Gold, crude oil and US natural gas prices rise
Gold, crude oil and US natural gas prices rise amid low volume trading due to shortened festive period week.
Gold price in recovery mode
The price of spot gold has bounced off last week’s $2,584.00 per troy ounce low and is trying to reach the 55-day simple moving average (SMA) at $2,666.00 but may run out of steam beforehand in the course of this shortened festive period week.
Minor support can be seen at the 6 December $2,614 low and also at the 25 November $2,606.00 low.
Crude oil price remains mixed
The price of WTI front month crude oil futures is flirting with the 55-day SMA at 69.81, having bounced off Friday’s 68.43 low. Further sideways trading in a low volatility range between this low and the current December high at 71.03 remains at hand.
US natural gas price rally
US natural gas prices are on track for their third straight day of gains and have their 3.633 November peak in their sights as a cold snap leads to higher demand.
Potential slips should find support around the 3.390 mid-December high.
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