Skip links

Gold price and oil price both rally

Gold’s push higher continues

Range trading appears to have given way to steady gains for gold, with higher lows and higher highs seen since last Wednesday.

Further gains target $1450, with the overnight pullback finding support at $1420. A move back below $1415 suggests some near-term weakness that might find support at $1400.

Gold chart

WTI rallies off recent lows

Unsurprisingly, rising tensions in the Gulf have boosted oil prices, with the WTI price breaking higher after hitting $55.00 last week.

Further gains target the $58.00 level that marked resistance in the middle of last week, while above this, $59.40 and $61.00 come into view. A fresh push lower could see $55.00 tested as support once again, and then down to $52.00.

WTI chartSource: ProRealTime