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Oil Gives Up Early Gains, Gold Non-Directional

  • Energy markets started the session well, with WTI crude futures trading within range of the 2021 highs posted in early March at $67.98. These gains quickly faded, however, as markets looked to book profits ahead of the long weekend.
  • Spot gold markets saw some volatility headed into the London close, but prices swiftly stabilised either side of the $1,900/oz handle.
  • This leaves the directional parameters for gold unchanged, with support at $1872.8/52.3 - Low May 25 / Low May 19 and resistance just above at the Wednesday high of $1912.8.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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