Gold and natural gas prices rise while WTI crude oil declines

IG

Spot gold prices have seen a recovery, rising after earlier losses. If the price closes above $2700, it could potentially reach the highs seen in November and December, around $2720. There is further resistance at the peak seen in October, near $2790.

If the price drops below $2650, it would increase the likelihood of a downward trend.

In the crude oil market, the upward momentum of WTI prices has temporarily halted. While recent trends indicate strength, a decline below $75 could signal a new phase of downward movement. If prices rally again, the targets to watch for are the high seen in August at $79 and the peak in early July at $84.

Natural gas prices have shown significant volatility, surging towards 3900 before retreating. If there is a sustained move higher, the peak from late December at 4000 could be the target. Conversely, if the price closes below 3400, it may indicate a test of the earlier January lows around 3300.

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