Gold price and natural gas price higher, while WTI crude price under pressure
While gold and natural gas are rising again, oil prices have continued to struggle.
Gold resumes its march higher
Spot gold surged once more this week after dipping to a two-day low on Wednesday.
While it has yet to surpass Tuesday’s record high, there does not appear to be much chance as yet of a reversal. Wednesday’s consumer price index (CPI) drop was met by fresh buying, leaving the bulls firmly in charge for the time being.
WTI drops back towards $70.00
Thursday’s WTI crude oil drop dashed hopes that a low had formed, though buyers have once again stepped in above $70.00.
Wednesday’s drop from $73.00 means that this is the level to clear in the short-term in order to open the way to more upside. A close below $70.00 marks a resumption of the drop from the mid-January highs.
Natural gas rise continues
The natural gas price continued to rally this week, recouping most of the losses from the second half of January.
Further gains head to the 3900 highs from January, with the uptrend now intact once more. Sellers have been unable to establish control over the price, which has rallied for five sessions in a row.
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