Gold price and natural gas price rise, while WTI crude price tries to form a low
Gold has resumed its march higher, while WTI is higher and natural gas has made gains.
Gold storms higher again
The spot gold price was knocked back on Friday by a stronger US dollar thanks to inflation expectations figures in the Michigan confidence data, and the news of more planned tariffs.
However, it then rebounded from the Sunday open, and now sits just below Friday’s record high. Given the uncertainty around the global economy, gold may well push to new record highs as early as today.
WTI tries to form a low
WTI crude oil prices slumped last week, but some buying was seen on Friday and overnight, providing hope of a low.
A close back above $72.00 might suggest that one has formed, and this would then allow the price to target the $74.00 zone. Downside momentum has been strong over the past three weeks, and a close back below $70.40 might signal the start of a new leg lower.
Natural gas rebound continues
A steady recovery has been seen since the end of January for natural gas.
The price has gained despite a lower close on Friday, averting a possible lower high for now. Having closed back above 3400, a cautiously bullish view appears to prevail. Further gains target 3600, and then on towards the January high around 3900.
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