Free Trial

Gold Breaks Below Recent Range

COMMODITIES

Bearish conditions in WTI futures were reinforced last week - the contract cleared support at $80.89, the Sep 8 low. This marks a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. Gold traded lower Friday, breaking out of its recent range and in the process confirmed the bear flag formation evident on the daily chart. The break confirms a resumption of the downtrend.

  • WTI Crude down $0.17 or -0.22% at $78.26
  • Natural Gas down $0.13 or -1.87% at $6.7
  • Gold spot up $2.96 or +0.18% at $1646.96
  • Copper down $1.8 or -0.54% at $332.3
  • Silver down $0.13 or -0.67% at $18.7451
  • Platinum up $3.87 or +0.45% at $863.02
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.