Gold edged higher in early morning trade, but it lacked strong upward momentum, and prices dropped back as Europe opened. Silver was little changed in early trade and appears to be consolidating after a notable jump yesterday.
Oil continued to push higher this morning, with front-month WTI holding above $69 per barrel. Support around $65 appears to be holding. Yesterday’s data showed a larger-than-expected draw in crude inventories. Today’s weekly inventory report is expected to show a 1.5-million-barrel build, so traders will be watching closely for further signals for the overall supply and demand dynamics.
Gas remained under pressure, slipping below $4, as mild weather and ample supply continued to weigh on prices.
Crypto markets were mixed and little-changed in early trade this morning. Bitcoin is eyeing the $90,000 level, while Ether continues to trade above $2,000. Both markets appear to be in a holding pattern as there’s little obvious upside momentum currently.