Skip to content

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

​​Gold price and natural gas price rise, but WTI crude price falls back​

While gold and natural gas prices have rallied, oil prices have fallen back again, towards the lows seen in the summer of 2023.

Gold Source: Adobe images

​​Gold on the up once more

​The spot gold price has rallied off the lows of the week and is pushing back towards the recent highs.

​Buyers defended the lows around $2472.00, pushing the price higher and averting even a short-term pullback for the time being. A close above $2531.00 leaves the price at a new record high. Sellers will need a close back below $2470.00 in order to suggest that the price may head back to the 50-day simple moving average (SMA).

Spot gold chart Source: ProRealTime
Spot gold chart Source: ProRealTime

​WTI heads towards summer 2023 low

​Oil prices faltered again yesterday, closing near the lows and leaving WTI within a short distance of the December lows.

​$67.30 provided support during the middle of 2023, so this will be a key area to monitor. There seems to be little sign of any bullish momentum, though a close back above $70.00 might suggest that a low has formed.

​Notably, news that OPEC was considering delaying an October production increase has done little to support the price.

WTI chart Source: ProRealTime
WTI chart Source: ProRealTime

​Natural gas heads higher

​Thursday saw the natural gas price make further gains, pushing firmly above the 200-day SMA and returning to the highs seen in mid-August.

​The buyers remain firmly in charge, after the bounce off 2200 earlier this week. Yesterday’s close above 2380 puts the price on course to make further gains, and it would need a close back below 2200 to negate this bullish outlook.

Natural gas chart Source: ProRealTime
Natural gas chart Source: ProRealTime

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

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. Please see important Research Disclaimer.

Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

Trade 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

1In the case of all DFBs, there is a fixed expiry at some point in the future.

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.

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Tuesday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.