Gold price and natural gas price make gains, WTI crude price under pressure
Gold and natural gas have made further gains so far today, but oil prices are drifting lower.
Gold price recovery goes on
The spot gold price continues to recover after the losses suffered on Monday.
Despite the heavy drop, buyers have returned to defend the $2600 level, halting any further downside. Further gains now target the high from last week at $2720, and then beyond this the October record high comes into view.
Gold daily chart
WTI drifts lower after Thursday’s bounce
The brief recovery yesterday has come under further pressure as US traders return from the Thanksgiving holiday.
The WTI price began the week on the back foot, and has continued to decline, back below $70. Further declines target the $66.75 area, which formed support in late September and in October and November. Overall, the broader downtrend is still in place, as the failure of recent bounces shows.
Crude oil daily chart
Natural gas heads higher
The natural gas losses of the past week were halted yesterday, and the recovery above 3200 could point the way to a fresh push back to the November highs.
Buyers have been in control for most of the past four months, and dips in October and early November were met by fresh buying. A close back below 3200 might signal that some short-term weakness is ahead.
Natural gas daily chart
The information 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 Bank S.A. 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 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. See full non-independent research disclaimer.
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 onto 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.
