Gold heads lower as oil price continues to bounce
Gold continues to suffer as yields rise once more, while oil prices have resumed their recovery after some weakness on Tuesday
Gold price slumps
Tuesday witnessed a fresh slump that has taken the Gold price back to the early March low around $1685. The sellers are back in charge once again, with a lower high in place at $1750. While a small intraday bounce is to be expected, the likelihood is that gold will continue its push lower for the time being.
WTI bounces
WTI oil fell back yesterday but began to recover in the second half of the session, with further gains this morning that leave the bounce from last week’s low intact. If the price clears $62 then further gains towards $66 result, and for now the bearish view is in abeyance since it requires a move back below $58 to indicate some further near-term weakness.
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