Gold price and oil price both on the up
Both gold and oil are rallying, making further gains after recoveries earlier in the week.
Gold rebound gathers pace
Gold's recovery continues, with the price moving back above the 50-day SMA ($1752) for the first time since the beginning of January. Further gains head towards $1820 and then $1840, and the revival looks set to continue unless the bears can push the price back below $1740 and reverse the recent breakout above $1750.
WTI makes further headway
Oil has continued to push higher as well, bolstered by the revival in risk appetite in other markets and the upgrade to IEA demand forecasts. Continued gains target $66.45 and $67.80. Sellers will want to see a reversal that pushes the price back below the 50-day SMA at $61.24 at the very least.
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