Gold price moves higher, while Brent crude price holds support and natural gas price struggles
Gold has shrugged off the weakness seen at the end of last week, while Brent crude has held support. Natural gas continues to drift sideways.
Gold continues to move higher
The price continues its ascent, having shrugged off Friday’s weaker close with a rebound on Monday. The price appears set on another attempt to clear $2400, and beyond this lies the high from Friday at $2430. Further geopolitical tensions may drive the price higher over time, though it remains overextended in the short-term, even if there is little sign of any major downward movement.
Brent holds above $89
While the price has edged down from its highs earlier in April, it continues to find near-term support. The $89 level is preventing any further downside for the time being, along with trendline support from early March. As with gold, geopolitical tensions may provide an underpinning of support from a macro perspective. A close below $88 might signal that a bigger move to the downside has begun.
Natural Gas struggles
The price attempted a strong rally on Tuesday, but was knocked back, though it avoided a lower close. Buyers may attempt to move it higher this morning, but a close above 2000 is needed to signal a more long-lasting move to the upside may be underway.
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