Gold price surges once more, and WTI crude price and natural gas price also rally
Gold is on the up once again, and natural gas has pushed higher after closing the gap up from Monday. Meanwhile oil prices have recovered too.
Gold on a roll once more
The spot gold price surged yesterday and has continued to recover from the higher low formed in November, and from the brief selloff on 25 November.
The past week saw the price consolidate around 2630, and this has resolved into a renewed push higher. Further gains target the $2720 high from 25 November, and then on to $2790, the late October peak.
Gold daily chart
WTI makes gains
Oil prices continue to rise, after recovering from the $67 support zone again.
The WTI crude oil price faces a picture of lower highs but continued horizontal support that has prevented the formation of lower lows. This could suggest that the downtrend is reaching an end. However, sustained upside above $72 would be needed to provide a more bullish view.
WTI crude oil daily chart
Natural gas forms a higher low
Monday’s gap higher was entirely retraced, and then having briefly moved below 3000, the natural gas price then recovered by the end of yesterday’s session.
A higher low is in place once more, and could see a resumption of the longer-term uptrend, targeting the 3600 highs from November. A close back below 3000 negates this view.
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.
