Gold turns lower as oil continues its rally
Gold is struggling in early trading while oil is on a high after a strong performance last week.
Gold
In a similar fashion to indices, gold bounced on Friday, but has seen its gains slow in early trading today. This leaves it poised between two potential outcomes: continued recovery back above $1890 that will bolster the bullish view, or a reversal back below $1870 that will give the sellers the upper hand overall.
WTI
The price came within a whisker of $70, continuing its move higher from the middle of May. There has been little in the way of sustained weakness in the past three weeks, so for the moment the buyers remain in charge, with momentum firmly on their side. Sellers will need a close below $68 to begin to reverse this.
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