Gold prices experienced a setback on Thursday after briefly reaching late November highs near $2,720. If the downward trend continues, the price could fall toward $2,610, a level where buyers showed interest in late November. The $2,720 mark remains a critical resistance point; breaking it could pave the way for a move toward October’s record highs.
WTI Crude Prices See Strong Performance
It’s been a positive week for oil, with WTI crude bouncing back from $67. Since late October, the price has settled into a range between $67 and $72, although it recently struggled to hold above $70. The price’s inability to break past this level suggests a cautious outlook, but the downtrend from April’s highs appears to have stalled for now.
Natural Gas Prices Continue to Climb
Natural gas prices have surged roughly 12% since December 4, reversing the pullback from late November. After a sharp rise on Wednesday, prices showed some weakness on Thursday but managed to recover and post further gains. The next key target is the late November high of 3,600. A drop below 3,000 would signal a potential reversal, possibly pushing prices back to early November lows.
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