Gold and silver edge up in morning trading while Brent crude remains under pressure
Precious metals have edged higher after Monday’s losses, but oil prices continue to struggle.

Gold consolidates after gains
Gold saw some of its bullish momentum ebb on Monday, halting the leg higher seen over the last week. Should this turn into a more substantial pullback then the 200-day SMA could be an initial target for any downside support. A close back above $1983 continues to target $2000 in the first instance.

Brent crude price drops back from last week’s high
Oil prices suffered a further knock on Monday, falling back towards the 50-day SMA. For Brent, a close back below $88 would be a potentially bearish development, as it might then see trendline support from the October low broken. Buyers will want to see the price hold above this level and then a move back towards $92 to maintain the bullish outlook.

Silver eyes renewed attempt to clear 200-day MA
The price seemed to reverse course on Monday, though a close back below $22.50 is needed to suggest that a lower high has formed. A recovery back above the 200-day SMA might help to suggest that a fresh leg higher is underway, with a close above $23.80 helping to solidify the bullish view.

Related articles
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.