Gold price weakens as oil price recovers
While gold continues to make new lows for the year, oil prices have found the strength to bounce once more.
Gold
Gold continues to be hit hard, Wednesday’s drop completely reversing the gains from Tuesday. Sellers continue to pile in, with a move to the $1680 support zone now likely. Any near-term bullish view requires a move back above $1740.
WTI
WTI has bounced once again, rebounding from $58.90 and putting the price back on a path to test the late February highs. Beyond this $65.46 comes into view. Sellers have been frustrated by the recovery, and will need to push the price back below $58.50 to provide a more near-term bearish view.
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