Gold price falls again as oil price holds steady

Gold is still dropping, remaining in a descending channel, while WTI is trapped below $35.

Gold remains in retreat

Gold continues to decline, creating a lower low around $1710, following on from the lower high on Monday at $1735.

It continues to hold a descending channel, with additional downside heading towards $1700, with a rebound heading towards $1730.

WTI drifts below $35

It seems as if WTI has finally exhausted itself, as the volatility of the first months of the year gives way to somnolence, with a tight range in place now for almost a week.

Gains have stalled below $35.00, but the price has shown little inclination to move below $33.50. This tight range will need to break to provide a more definitive longer-term view.


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