Gold price higher, and WTI crude price holds steady, while natural gas price falls back
Gold prices continue their recovery from Monday’s drop, while WTI is holding around $69.
Gold recovers for a second day
The spot gold price has clawed its way higher over the past 48 hours, recovering from Monday’s big drop.
For the moment the selling has halted, but there is still some way to go before it recovers the highs seen at the end of last week. The November low around $255 remains in place however, providing support for the time being and helping to avoid turning the view bearish in the short-term.
Spot gold daily chart
WTI holds around $69... for now
Monday’s WTI losses seem to have sparked off a new leg to the downside, though an indecisive candle yesterday helped to muddy the waters.
Nonetheless, a close below $68 will reinforce the bearish view and bring the recent lows around $67 into play. Below this is the September low at $65.40.
WTI crude oil daily chart
Natural gas heads lower from one-year high
A pullback seems to be developing, after the November natural gas rally to one-year highs.
Support may be found around the June high at 3200, or the 3150 high from early October. A close back above 3400 might suggest that the buyers have reasserted control. This would then open the way to the 3600 high from last week.
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.
