Skip to content

CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Gold finishes higher while silver and oil oscillate

Trump set to meet with oil executives, expects a Russia-Saudi deal soon.

Oil Source: Bloomberg

Gold Technical analysis, overview, strategies, and levels

Although gold prices rose higher during yesterday's session and finished higher above its 50-day moving average (the last of its main long-term moving averages), it failed to break yesterday's $1,600 resistance level in a test of conformist breakout strategies that outperformed the day before, and aiding contrarian reversals instead. Big US data will be released over the course of the next two days, and simultaneously attention will be on coronavirus figures that have been rising in the US. Overall, the current uncertain atmosphere has remained a boon for physical gold, and whether or how long it will take to allow prices in the financial markets to catch up remains yet to be seen.

Gold Technical Indicators Source: IG charts

IG client* and CoT sentiment for Gold

Gold sentiment Source: IG charts

Gold chart with retail and institutional sentiment

Gold Source: IG charts

Silver Technical analysis, overview, strategies, and levels

It was another session of relatively little movement for silver prices, and in turn ending the day close to where it started. The lack of change in silver prices combined with the increase in gold prices translated into a slight increase in the gold/silver spread, but hardly noteworthy in the overall rise in the spread to record highs late last month. Most of its technical indicators are neutral but with a trending ADX (Average Directional Index), and where its price remains below all its main long-term moving averages.

Silver Technical Indicators Source: IG charts

IG client* and CoT sentiment for Silver

Silver sentiment Source: IG charts

Silver chart with retail and institutional sentiment

Silver Source: IG charts

Oil Technical analysis, overview, strategies, and levels

Oil prices remained glued to the lows and weren't aided by EIA's (Energy Information Administration) massive 13.8mn surplus that at last confirmed fears that the plummet in demand which has now reached the US on a much larger scale combined with the oil majors engulfed in a price war has resulted in a surge in oil inventories. In oil news, the US President said he expects a deal within a few days between Russia and Saudi Arabia (contrasting prior reports from officials downplaying the attempt), and invited oil chiefs to the White House. Some US shale producers and Texas regulators were already calling for some sort of production cut. In shale news, Whiting Petroleum filed for bankruptcy protection yesterday, in what is expected to be the start of a wave of bankruptcies for the high-cost oil-producing sector in the US.

Learn more about oil trading.

Oil Technical Indicators Source: IG charts

IG client* and CoT sentiment for Oil WTI

Oil sentiment Source: IG charts

Oil WTI chart with retail and institutional sentiment

Oil Source: IG charts

*The percentage of IG client accounts with positions in this market that are currently long or short. Calculated to the nearest 1%, as of today morning 8am.

Be sure to request IG’s Weekly & Daily Market Report when you open an account with IG Dubai and get access to the full information on the FX majors, commodities, indices, and Bitcoin.


This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

React to volatility on commodity markets

Trade commodity futures, as well as 27 commodity markets with no fixed expiries.

  • Wide range of popular and niche metals, energies and softs
  • Spreads from 0.3 pts on Spot Gold, 2 pts on Spot Silver and 2.8 pts on Oil
  • View continuous charting, backdated for up to five years

See opportunity on a commodity?

Try a risk-free trade in your demo account, and see whether you’re on to something.

  • Log in to your demo
  • Try a risk-free trade
  • See whether your hunch pays off

See opportunity on a commodity?

Don’t miss your chance – upgrade to a live account to take advantage.

  • Analyse and deal seamlessly on fast, intuitive charts
  • Get spreads from just 0.3 points on Spot Gold
  • See and react to breaking news in-platform

See opportunity on a commodity?

Don’t miss your chance. Log in to take your position.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Friday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.