Gold price and silver price move higher while Brent crude price holds steady
While gold and silver are attempting to move higher again, Brent crude is steady after Wednesday’s solid gains.
Gold edges higher
The spot gold price is making a fresh attempt to push higher, after finishing near the lows on Wednesday.
A close above $2400.00 could spark a fresh move to the upside, while the medium-term bullish view remains in place while the price holds above the 50-day simple moving average (SMA).
Silver attempts to form a low
After falling sharply over the past week, the spot silver price has stabilised, but it will need a strong close to suggest that a low has formed.
Any short-term bounce targets trendline resistance from the mid-July high, while a close below the $26.00 level and the 200-day SMA would mark a more bearish development.
Brent holds around $78.00
The Brent crude oil price rallied on Wednesday, and a higher close today could bolster the view that a low has formed.
Trendline resistance from the July high comes into play around $79.00, which may limit upside in the near-term.
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