Gold price and oil price both quiet as risk appetite rebounds
Gold and oil have both struggled to make headway, even as risk assets like stocks enjoy strong gains.
Gold stuck in a rut
Having declined in step with equities of late, it was odd to see gold not rally in tandem with them on Friday. The price continues to hold above the 100-day SMA ($1847), providing a possible floor for a rebound towards $1944 and the 50-day SMA. Alternately a close below $1847 brings a move towards $1765 into view.
WTI hits resistance
Oil prices have not continued their gains from Thursday, stalling on Friday and today at the 200-day SMA ($40.13). However the price has held trendline support from the September low, so if we can see a firm move above $40.80, clearing a key area from last week, then a more bullish view may emerge. A reversal below $39 hands the initiative to the sellers.
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