Gold price higher but WTI crude price and natural gas price struggle
While gold is making further gains on its way back to recent highs, both WTI and natural gas are struggling.
Gold still moving higher
The move higher has continued here, putting the spot gold price back within easy distance of the September record high.
Having rebounded from $2600.00 the buyers have reasserted control, and a new record high seems more than likely. A reversal back below $2600.00 would be needed to suggest that the rally has been halted for the time being.
WTI keeps falling
Losses have continued here, though while the WTI crude oil price finished off its lows yesterday the overall bearish view is still in place.
Tuesday’s session saw the price drop back below trendline resistance from July, and it has continued to fall this morning. Trendline support from the September lows comes into play shortly.
Natural gas halts losses for now
The natural gas losses have halted here for now, though the price finished Tuesday close to its lows.
A close back above 2800 might help to suggest that a low has been formed, which would put the price back on course towards the recent highs.
A close back below 2700 signals more weakness in the direction of the 50-day simple moving average (SMA).
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
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
