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Gold: Rebound towards last month high at $2725 is possible – Société Générale

Gold uptrend has stalled after facing stiff resistance near $2790 in October, Société Générale’s FX analysts note.

Gold faces a lack of clear direction

“The price action has been narrowing as highlighted by two converging trend lines. Crisscross moves around 50-DMA denote a lack of clear direction.”

“Upper part of range since mid-December near $2670 is first hurdle. In case this is overcome, a rebound towards last month high of $2725 can’t be ruled out. Recent pivot low of $2610 is important support near term.”

EUR/USD slides as FOMC minutes signal slowdown in US disinflation trend

EUR/USD moves lower below 1.0300 but stays inside Wednesday’s trading range in Thursday’s European session.
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EU natural gas market strengthens on Ukraine transit ban – ING

The European natural gas market has also strengthened with TTF briefly trading above EUR50/MWh, ING’s commodity analysts note.
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