Gold hovers near highs while WTI crude oil price makes small gains and natural gas price falls again
Gold is holding firm after its surge to fresh record highs, while crude oil prices are steady and natural gas is seeing some early weakness.
Gold edges back from new record
The spot gold price has hit fresh record highs in the last week, thanks to the ongoing tariff volatility.
Last week saw the price regain $3000.00, and then shoot higher for three consecutive sessions. We may see some consolidation around these levels, but the overall uptrend is still in place and it seems too early to suggest that a top is in place.
WTI steady for now
The WTI crude oil price has stabilised around the highs of the past week, but is currently unable to make much headway above $61.50. Rallies above $62.00 last week met heavy selling, while there was buying at $55.00.
In the short-term a continued rally needs to recover $65.00, where the price bottomed for a time in early March. Conversely, a drop back below $60.00 might suggest a new leg down to $55.00 is underway.
Natural Gas heads lower
Natural gas has declined through April so far, from a high around 4200 to the current levels around 3550. Buyers entered last week at 3400, but it is not yet clear that a low has formed.
A close back above 3600 would help to bolster the bullish view, and potentially open the way to 4200. A close back below 3400 would put the sellers in charge once more, and make the January low at 3000 the next target.
