Gold price and Brent crude price continue to rise amid recent breakout
Gold and Brent crude head higher, with recent surge looking likely to persist.
Gold continues its ascent as it heads towards record highs
Gold is pushing higher yet again this morning, with an overnight retracement proving short-lived.
This intraday trend of higher highs and higher lows provides the blueprint for further upside, with a bullish outlook in play as long as the price remains above the recent low of $1863. To the upside, the main hurdle yet to overcome is provided by the all-time high of $1921.
Brent pushing higher after retracement into recent resistance
As expected, the recent pullback in Brent crude did manage to respect the breakout level of $43.91 to break higher once more, with the recent high of $45.01 now looking to come into play as resistance.
A break through that level continues the uptrend, pointing towards further upside to come from here. To the downside, a decline below $44.31 would raise questions over another potential short-term retracement starting to emerge.
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