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Gold Momentum Remains Firm to Record Highs

COMMODITIES

Gold remains firm on the back of its latest rally. The yellow metal has this week traded above resistance at $2135.4, the Dec 4 high to deliver a fresh all-time cycle high. The break reinforces bullish conditions and signals scope for a climb towards $2177.6 next. The WTI futures trend condition remains bullish and the contract is trading closer to its recent highs. The recent breach of key resistance at $79.09, Jan 29 high, reinforces this theme. The clear break highlights potential for a continuation towards $81.70.

  • WTI Crude up $0.15 or +0.19% at $79.21
  • Natural Gas down $0.02 or -0.99% at $1.797
  • Gold spot up $9.31 or +0.43% at $2169.8
  • Copper up $1.4 or +0.36% at $394.05
  • Silver up $0.18 or +0.73% at $24.5022
  • Platinum up $0.56 or +0.06% at $921.91

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