Free Trial

Gold Circling Below Cycle Highs

COMMODITIES

Gold shows at a new cycle high early Thursday, adding to recent gains and topping key resistance at 1985.3, the May 24 high. A close above here could presage a stronger reversal higher. WTI futures prices bounced well off the Monday lows and are adding to the underlying uptrend early Friday. The current bull cycle remains intact after the recent breach of $72.72, the Jun 21 high. Last Wednesday’s move higher resulted in a break of key resistance at $75.70, the Jun 5 high as well as the 200-dma.


  • WTI Crude up $0.47 or +0.62% at $76.15
  • Natural Gas up $0.01 or +0.25% at $2.765
  • Gold spot down $7.81 or -0.4% at $1961.81
  • Copper up $0.3 or +0.08% at $383.6
  • Silver down $0.06 or -0.23% at $24.712
  • Platinum up $1.49 or +0.16% at $961.55
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.