Gold price becalmed but oil price surges
While gold has been unable to establish a firm direction, oil prices have finally begun their ascent.
Gold stuck in tight range
Over the past week dips in the price of gold towards $1490 have found buyers, while gains have been constrained by the $1515 zone. A break higher out of this range would signal a resumption of bullish momentum, and target $1535 and then $1555.
Meanwhile, bears will have to push the price back below $1490 to clear a path towards $1460 and the low from the beginning of the month.
WTI finally begins to rally
The WTI break higher may finally have arrived, as the price shoots through $54.00 to hit its highest level in almost two weeks. Having built a base around $52.00, the price has now found the energy to rally.
Intraday pullbacks may continue to find buyers, with the bullish view remaining in place unless the price reverses below $53.00.
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.