Gold price surges but oil price drops back again

Gold has found the strength to surge to a new high for the year, but oil prices are remaining stubbornly in bearish mode.

Gold surges to new YTD high

The rally is certainly back on here, with the price of gold shooting above $1350 to a new high for the year.

A pullback towards $1330 would provide a good buying opportunity, while the next target will be the 2018 highs at $1365.

WTI still in bearish mode

Despite the Gulf news yesterday, the price of WTI has refused to rally, dropping back from $53.

A push below $52 targets $51, the lows of the month. A recovery above $54 is needed to revive the more bullish view.

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