Gold price drops as oil price holds firm

Gold is fighting to hold its ground while oil continues to move higher after heavy losses at the beginning of the week.

Gold hit by risk-on revival

Gold looks at risk of further declines, as its overnight bounce from $1640 hits $1665 and starts to turn lower.

Below $1640 the price heads towards $1584 and then $1564. The price needs to clear $1665 to open the way to more upside, targeting $1700.

WTI edges higher

The WTI price continues to clamber higher, having managed to push up to $36.00 overnight.

This modest rebound will continue with a fresh move above $36.00, helping to close more of the gap from Monday. A move back below $32.00 would signal a resumption of bearish momentum.

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