Gold price and silver price move higher while Brent crude price holds steady
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.