Gold price and silver price look for gains, but Brent crude price heads lower
Precious metals have held steady in early trading, but oil has dropped sharply once more.
Gold close to new highs
The spot gold price touched a record high yesterday, continuing its strong run from the December lows.
Early trading has seen little movement, but with stochastics continuing to point towards strong momentum, a push to fresh highs cannot be discounted.
Silver holding up well
Spot silver prices shrugged off the Sunday night weakness and pushed higher on Monday, cancelling fears of a possible sustained turn lower.
The early December highs at $32.00 are the next area of potential resistance. In the short-term, a reversal back below $31.00 might signal that a new move lower was underway.
Brent heads lower
Hopes of a Brent crude oil price rally have been dashed following Monday’s reversal.
The price had shown signs of recovery overnight on Sunday, but the commodity turned south during the session, and the price has now fallen below last week’s low of $75.00, negating the potential higher low. The next significant support lies around the December lows of $72.00.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material 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 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. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research 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 and quarterly summary.
React to volatility on commodity markets
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.
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
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
