Gold steady as oil keeps on falling
While gold has held its ground, oil prices are still on a downward move.
Gold
The price refuses to roll over, and instead is consolidating after its strong run higher.
Having mostly held its ground all week there is little sign that a downside move is going to develop, at least for now, and instead we may see fresh attempts to push on above $1790/$1800.
WTI
There is as yet no sign of a firm bounce in WTI, which has continued to push lower despite yesterday’s small recovery.
The 200-day simple moving average (SMA) at $60.63 continues to loom on the horizon, as an area of possible support.
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