Gold price weakens while oil price stuck below $57

Gold is still under some pressure, while oil is still finding it impossible to break higher.

Gold edges lower

Gold continues to work off the gains of the past few weeks.

Friday saw the price push towards $1500 and then bounce, but it looks like it is unable to hold gains in the short term, and that a deeper retracement will continue. However, this is a welcome development for bulls, as it will provide a more attractive risk/reward dynamic in due course.

Gold chart Source: ProRealTime

Gold chart Source: ProRealTime

WTI held below $57

WTI continues to struggle around $57.00, falling back from this level in early trading.

If this begins, a repeat of previous weeks then a move back to $53.00 is a possibility. Further gains head towards $58.60 and then $61.00.

WTI chart Source: ProRealTime

WTI chart Source: ProRealTime


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