Gold price climbs as oil price holds support
Gold’s climb continues unabated, while oil is attempting to resume the bullish move seen earlier in the week.
Gold trend just keeps on going
Those looking for signs of a reversal in gold have been sorely disappointed of late.
The price has made further gains above $2000, and seems set to continue. The sequence of higher highs is still in place, with no sign of a reversal yet.
WTI eases off mid-week high
WTI enjoyed a strong first half of the week, but the past 48 hours have not seen a continuation of this bullish momentum.
Losses have been contained around $41.80 however, and a rebound from here would target $43.50 once more. A drop back below $41.50 further reinforces a more cautious outlook.
This information has been prepared by IG, a trading name of IG Australia Pty Ltd. 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.
Speculate on commodities
Trade commodity futures, as well as 27 commodity markets with no fixed expiries.1
- 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
Live prices on most popular markets
- Forex
- Shares
- Indices
