Gold price surges once more, and WTI crude price and natural gas price also rally
Gold is on the up once again, and natural gas has pushed higher after closing the gap up from Monday. Meanwhile oil prices have recovered too.
Gold on a roll once more
The spot gold price surged yesterday and has continued to recover from the higher low formed in November, and from the brief selloff on 25 November.
The past week saw the price consolidate around 2630, and this has resolved into a renewed push higher. Further gains target the $2720 high from 25 November, and then on to $2790, the late October peak.
Gold daily chart
WTI makes gains
Oil prices continue to rise, after recovering from the $67 support zone again.
The WTI crude oil price faces a picture of lower highs but continued horizontal support that has prevented the formation of lower lows. This could suggest that the downtrend is reaching an end. However, sustained upside above $72 would be needed to provide a more bullish view.
WTI crude oil daily chart
Natural gas forms a higher low
Monday’s gap higher was entirely retraced, and then having briefly moved below 3000, the natural gas price then recovered by the end of yesterday’s session.
A higher low is in place once more, and could see a resumption of the longer-term uptrend, targeting the 3600 highs from November. A close back below 3000 negates this view.
Natural gas daily chart
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