Gold price hits six-year high as oil price falls back

Gold continues to climb, as it pushes to a six-year high, while oil is edging back from the recent highs thanks to waning US-Iran tensions.

Gold climbing at rapid rate

The parabolic move goes on for gold, with short-term dips proving to be buying opportunities.

A possible bearish wedge has formed, with a break below $1420 likely to see a significant retracement. $1412 and $1384 are possible areas of support in the short term.

Brent edges lower

The Brent price has edged back from last week’s high but has found support around $63.40.

A further recovery targets $65.00, and then on to $66.80. Below $63.00 the price will head towards $61.00 and then $59.20.


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