Gold price and oil price both push higher

Gold is looking to maintain its steady gains, while oil prices are back at the early July peak as its rally goes on.

Gold still tiptoeing higher

The modest rally continues here for gold, as the price edges higher.

Last week saw the price drop back sharply from $1435, so a move above here provides a more bullish view and opens the way to $1455. A shallow rising trendline from the lows of last week would see support around $1425, with a move below here perhaps suggesting a drop back towards $1415.

Oil returns to early July resistance

Gains continue here, as the price establishes new higher highs and higher lows for WTI.

However, it needs to clear the 17 July peak around $58.50 to establish a breakout, so we may see some hesitancy around this level. A pullback towards $57.00 may find support, and drop back to $57.30 would establish a higher low.


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