Gold and oil prices rise as natural gas shows signs of recovery

IG

Spot gold prices are on the rise again, nearing their previous highs of around $2600.00. This increase is due to the recent weakening of the US dollar.

As a result, there may be increased buying activity, which could potentially push prices back to the record levels seen in late September.

WTI crude oil has had a volatile week but is now showing signs of recovery. Prices closed above $72.00 after a dip earlier in the week. The medium-term outlook has shifted from bearish to neutral due to continued buying interest.

Market participants are eagerly awaiting developments regarding the Israeli response to recent attacks on Iran, as this could further impact prices.

Natural gas prices have also rebounded from recent lows and are holding onto trendline support. Early trading suggests stability, and if prices close higher today, it could indicate the beginning of a new upward trend, potentially revisiting the highs of 3100.

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