Gold price, WTI crude price and natural gas price push higher
Gold holds above previous highs
The spot gold price has started to make headway once more, having edged back to the previous highs around $2600.00.
An easing off of US dollar strength in recent days appears to have provided the catalyst for the move, and could see fresh buying pressure carrying the price back to the late September record highs.
Meanwhile, a close back below $2600.00 would be needed to suggest that another possible leg lower was underway.
WTI recovers after choppy week
Another see-saw week for WTI crude oil prices is entering its final session, but the buyers have retained control.
After slumping on Tuesday, the commodity found buyers on Wednesday, closing above the $72.00 level. Thursday saw further gains, helping to reverse the looming bearish view and putting the price back on course to test the week’s high around $77.25.
This continues to alter the medium-term view from bearish to neutral, but the world still awaits an Israeli response to the Iran attacks, which may drive the price higher.
Natural gas moves higher
The pullback from the recent highs may have run its course, after a recovery yesterday that saw the natural gas price just cling on to trendline support.
While the price is quiet in early trading so far, a higher close today would signal a possible new leg higher, taking the commodity back to the 3100 highs.