Gold Prices Eye Key Chart Support, Crude Oil Drops Before EIA Data

GOLD & CRUDE OIL TALKING POINTS:

• Gold prices stall as prices begin to test near-term trend support
• Crude oil prices drop, producing a bearish technical formation
• EIA inventory flow data headlines otherwise lackluster calendar

Gold prices managed a modest upswing yesterday. The benchmark for non-interest-bearing assets pulled up as bond yields corrected lower after two days of gains scored in the wake of Friday’s upbeat US jobs report. A rising US Dollar undercut anti-fiat demand however, capping gold’s upside potential.

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