Gold price higher as hopes of a bounce rise, while WTI crude oil price and natural gas price fall back
Gold prices are recovering from their recent weakness, while both oil and natural gas have fallen in early trading.
Gold rebounds from higher low
Gold bulls will be hoping that a new leg higher could be beginning.
The price seems to have bottomed out just above $2550.00, and has seen a strong start to the week. A close above $2600.00 would help to bolster the bullish view, and suggest further gains over time back in the direction of $2800.00.
A reversal back below $2550.00 would put the sellers back in charge.
WTI heads lower
WTI crude oil prices managed to move higher on Friday, holding above $67.00 for the time being.
A break of this support zone would then clear the way to the lows of September at $65.00. This marked the low in 2023 as well. A short-term bounce targets the recent highs around $72.00.
Natural gas holds near highs
After gapping higher on Friday the natural gas price has stalled, edging lower.
The price sits just below the 3200 level that marked the highs since May. The overall rally remains in place, after bouncing from early November’s low above 2600. Longer-term gains target the October 2023 highs at 3600, with the November 2023 high at 3380 intervening before this.
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