Gold price, silver price and Brent crude price make gains
Gold’s rebound has continued, while silver has managed to halt yesterday’s losses. Brent crude is also moving higher after a mixed period in the last two sessions.
Gold continues to surge
The spot gold price has shaken off its indecision from earlier in the week and continues to rally.
The higher low at $2550.00 provided an entry point for longs and has put new strength into the uptrend. Further gains target $2700.00, and from there the October record high comes into view. A close back below $2600.00 might indicate a drop back to $2550.00 might be developing.
Silver stabilises after losses
Spot silver's bounce has faltered, though last week’s low is still in place for now.
A close back above $31.60 might indicate a renewed push to the upside and might then see the price push on towards the highs of late October. The current bullish short-term view would be negated with a drop back below $30.00.
Brent makes gains
After two days of losses the price has resumed its march higher, after the fall to the $70.40 support zone.
In the short-term a continued push higher targets the $76.00 level, which was resistance in October and November. The medium-term bearish view is still in place however, given the series of lower highs in recent months.
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