The price of spot gold has reached new record highs overnight, extending its strong upward momentum since late December. Buyers remain in firm control, with $2,900 emerging as the next key target, while discussions of a potential push toward $3,000 are gaining traction.
Monday’s brief dip saw strong buying interest below $2,800, reinforcing that level as a crucial support point. Any significant pullback would need to break below this threshold to signal a shift in trend.
WTI Crude Oil Attempts a Rebound
WTI crude oil saw a recovery last week, climbing above $72 and briefly clearing $74 before retreating back to $72.
Tuesday’s trading session remained indecisive, with prices struggling to gain direction. However, substantial buying activity around $71 suggests potential support. Overnight gains have fueled optimism that a price floor may have formed, and a strong close today would reinforce this outlook.
Natural Gas Declines Further
Natural gas prices continue their downward trajectory, approaching last week’s lows around 3,000. If the decline persists, further losses could be expected. Conversely, a rebound above 3,250 may indicate the formation of a short-term bottom, with Monday’s high of 3,400 serving as an initial resistance level.
