{"id":64224,"date":"2026-04-23T10:11:36","date_gmt":"2026-04-23T10:11:36","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=64224"},"modified":"2026-04-29T01:31:46","modified_gmt":"2026-04-29T01:31:46","slug":"rising-crude-is-bearish-for-gold","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/23\/rising-crude-is-bearish-for-gold\/","title":{"rendered":"Rising Crude is Bearish for Gold"},"content":{"rendered":"<h4>Key Points<\/h4>\n<ul>\n<li>Brent crude futures (June&#8217;26) rose to $103.68 per barrel.<\/li>\n<li>The S&amp;P 500 reached a new high. However, the bull signal has not been confirmed by the Dow and the S&amp;P 1500 Transportation Index.<\/li>\n<li>The Fed has injected $170 billion of liquidity into financial markets since December 2025.<\/li>\n<li>10-year Treasury yields found support at 4.25%, while gold is headed for another test of support at $4,500 per ounce.<\/li>\n<\/ul>\n<hr \/>\n<p>Brent crude futures (June&#8217;26) broke resistance at $100 per barrel and are now testing $104.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-22-brent.png?resize=525%2C306&#038;ssl=1\" alt=\"Brent Crude Futures (ICE June'26)\" width=\"525\" height=\"306\" \/><br \/>\n<i>[Content protected for Premium, Australian Growth, International Growth, Market Analysis members only]<\/i><\/p>\n&#8230;.. If you are already a subscriber, please login to continue reading:<\/p>\n<div style=\"width:400px;max-width:90%;margin:auto;\"><div class=\"WishListMember_LoginMergeCode\"><div class=\"wlm-ajax-login\"><div class=\"wlm-ajax-login-form\"><form action=\"https:\/\/thepatientinvestor.com\/wp-login.php\" method=\"post\" class=\"wlm_inpageloginform\">\n<input type=\"hidden\" name=\"wlm_redirect_to\" value=\"wishlistmember\" \/>\n<input type=\"hidden\" name=\"redirect_to\" value=\"wishlistmember\" \/>\n<div class=\"wlm3-form\">\n<div class=\"wlm3-form-group\"><label>Username or Email Address<\/label><input name=\"log\" class=\" wlm3-form-field fld\" id=\"wlm_form_field_log\" type=\"text\" value=\"\"><\/div>\n<div class=\"wlm3-form-group\"><label>Password<\/label><span class=\"wishlist-member-login-password\"><input name=\"pwd\" class=\" wlm3-form-field fld\" id=\"wlm_form_field_pwd\" type=\"password\" value=\"\"><a href=\"#\" class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/a><\/span><\/div>\n\n<div class=\"wlm3-form-group\"><label><input name=\"rememberme\" class=\" form-checkbox fld\" id=\"wlm_form_field_rememberme\" type=\"checkbox\"  value=\"forever\"> Remember Me<\/label><\/div>\n<p><input name=\"wp-submit\" class=\"\" id=\"wlm_form_field_wp-submit\" type=\"submit\" value=\"Login\"><\/p>\n\n<p>\n<a href=\"https:\/\/thepatientinvestor.com\/wp-login.php?action=lostpassword\">Lost your Password?<\/a>\n<\/p>\n<\/div>\n<\/form><\/div><form method=\"post\" action=\"https:\/\/thepatientinvestor.com\/wp-login.php?action=wishlistmember-otl\" class=\"wlm-ajax-login-form-otl\" style=\"display: none;\"><div class=\"wlm-ajax-login-notice -permanent\">Please enter your username or email address. 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You will receive an email message with instructions on how to reset your password.<\/div><div class=\"wlm3-form\"><div class=\"wlm3-form-group\"><label>Username or Email Address<\/label><input name=\"user_login\" class=\" wlm3-form-field fld\" id=\"wlm_form_field_user_login\" type=\"text\" value=\"\"><\/div><p><input name=\"wp-submit\" class=\"\" id=\"wlm_form_field_wp-submit\" type=\"submit\" value=\"Get New Password\"><\/p><input name=\"action\" class=\" wlm3-form-field fld\" id=\"wlm_form_field_action\" type=\"hidden\" value=\"lostpassword\"><p><a href=\"https:\/\/thepatientinvestor.com\/wp-login.php?action=login\">Log in<\/a><\/p><\/div><\/form><\/div><\/div><\/div>\n<p>If you are not a subscriber, to find out more <a href=\"https:\/\/thepatientinvestor.com\/index.php\/subscribe\/\">click here<\/a>\n","protected":false},"excerpt":{"rendered":"<p>Key Points Brent crude futures (June&#8217;26) rose to $103.68 per barrel. The S&amp;P 500 reached a new high. However, the bull signal has not been confirmed by the Dow and the S&amp;P 1500 Transportation Index. The Fed has injected $170 billion of liquidity into financial markets since December 2025. 10-year Treasury yields found support at &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/23\/rising-crude-is-bearish-for-gold\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Rising Crude is Bearish for Gold&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31,44,9,34,35],"tags":[69,7256,1073,1113,1355,7272,3010,3204],"class_list":["post-64224","post","type-post","status-publish","format-standard","hentry","category-the-fed-banks-interest-rates","category-crude-oil-natural-gas","category-gold-precious-metals","category-us-canada-countries-regions","category-us-dollar-index","tag-10-year-treasury-yield","tag-brent-crude-futures-ice-june26","tag-dollar-index","tag-dow-jones-industrial-average","tag-fed-total-assets","tag-sp-1500-transportation-index","tag-sp-500","tag-spot-gold"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Rising Crude is Bearish for Gold - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rising Crude is Bearish for Gold - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Key Points Brent crude futures (June&#8217;26) rose to $103.68 per barrel. The S&amp;P 500 reached a new high. However, the bull signal has not been confirmed by the Dow and the S&amp;P 1500 Transportation Index. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-gHS","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":64275,"url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/28\/the-sp-500-and-the-strait-of-hormuz\/","url_meta":{"origin":64224,"position":0},"title":"The S&#038;P 500 and the Strait of Hormuz","author":"Colin Twiggs","date":"April 28, 2026","format":false,"excerpt":"Key Points Brent crude June '26 futures are testing resistance at $110 per barrel. The S&P 500 indicates a bull market. However, the S&P 1500 Containers & Packaging Index ($X3BF) threatens a primary downtrend. The bond market is growing restless as the risk of fiscal dominance grows. Brent crude (June'26)\u2026","rel":"","context":"In &quot;Crude Oil &amp; Natural Gas&quot;","block_context":{"text":"Crude Oil &amp; Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"Brent Crude Futures (ICE June'26)","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-27-brent2.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-27-brent2.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-27-brent2.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":64294,"url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/30\/crude-up-gold-down\/","url_meta":{"origin":64224,"position":1},"title":"Crude Up, Gold Down","author":"Colin Twiggs","date":"April 30, 2026","format":false,"excerpt":"Key Points President Trump rejects Iran's proposal to reopen the Strait and discusses an extended US naval blockade. Brent crude futures (June'26) jump to more than $120 per barrel. The Fed kept interest rates on hold in Jerome Powell's last FOMC meeting as Fed Chair. Powell says he will stay\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Brent Crude Futures (ICE June'26)","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-29-brent2.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-29-brent2.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-29-brent2.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":63983,"url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/03\/31\/financial-markets-tighten-as-tankers-burn\/","url_meta":{"origin":64224,"position":2},"title":"Financial Markets Tighten as Tankers Burn","author":"Colin Twiggs","date":"March 31, 2026","format":false,"excerpt":"Key Points Iran attacked a fully loaded oil tanker off Dubai in the Persian Gulf, setting it ablaze. Brent crude futures (May'26) are testing resistance at $115 per barrel. Financial market liquidity is tightening, with credit spreads widening. The US Dollar strengthened to 100.5. TEL AVIV\/WASHINGTON, March 31 (Reuters) -\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Brent Crude Futures (ICE May'26)","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-03-30-brent4.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-03-30-brent4.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-03-30-brent4.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":64452,"url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/05\/14\/china-has-the-us-over-a-barrel\/","url_meta":{"origin":64224,"position":3},"title":"Xi Has Trump Over a Barrel","author":"Colin Twiggs","date":"May 14, 2026","format":false,"excerpt":"Key Points Producer prices jumped by 6.0% over the 12 months to April, warning of higher consumer prices ahead. 10-year Treasury yields responded with a rise to 4.48%. Xi Jinping has the upper hand in negotiations with Donald Trump because of China's large strategic oil reserves, which they could use\u2026","rel":"","context":"In &quot;Copper&quot;","block_context":{"text":"Copper","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/commodities-gold-commodities\/copper\/"},"img":{"alt_text":"Producer Price Index (PPI)","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-05-13-ppi-core.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-05-13-ppi-core.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-05-13-ppi-core.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":58573,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/10\/19\/silver-smashes-resistance\/","url_meta":{"origin":64224,"position":4},"title":"Silver smashes resistance","author":"Colin Twiggs","date":"October 19, 2024","format":false,"excerpt":"Silver jumped more than $2 per ounce to a 12-year high of $33.72 per ounce, while gold closed at a new high of $2,721 per ounce. The flight to safety is boosting demand for precious metals and the Dollar. Stocks The S&P 500 closed at a new high of 5864.\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"S&P 500","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-10-18-spx.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-10-18-spx.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-10-18-spx.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":42731,"url":"https:\/\/thepatientinvestor.com\/index.php\/2023\/06\/24\/gold-crude-and-the-dollar\/","url_meta":{"origin":64224,"position":5},"title":"Gold, Crude and the Dollar","author":"Colin Twiggs","date":"June 24, 2023","format":false,"excerpt":"The S&P 500 continues to retrace to test the band of support between 4200 and 4300. Respect would signal a fresh advance but the odds of breach appear higher than they would normally in a breakout. The equal-weighted S&P 500 respected resistance at 6000 and is now retreating. Expect strong\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"S&P 500","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-06-23-spx.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-06-23-spx.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-06-23-spx.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/64224","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=64224"}],"version-history":[{"count":2,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/64224\/revisions"}],"predecessor-version":[{"id":64288,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/64224\/revisions\/64288"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=64224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=64224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=64224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}