Skip to content

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Gold holds firm, while WTI crude oil tests new lows and natural gas drops back​

While gold is holding steady, both natural gas and oil have fallen, the latter to six-month lows.

Gold Source: Adobe images

​​​Gold contained around $2930.00

​While spot gold has rebounded from the low of last week, the price has yet to retake the highs around $2950.00.

​The past three days have seen gains stall just below $2930.00, though buyers have continued to defend $2900.00. A lower close today might signal a new leg lower, perhaps targeting the recent low at $2832.00.

Spot gold chart Source: IG
Spot gold chart Source: IG

​WTI back to September lows

WTI crude oil returned to its September low yesterday, matching the losses seen on Wednesday.

​While buyers defended the lows this week, the swift downward move from the January highs has transformed the outlook to bearish once more. Short-term bounces in February brought out fresh selling, as the price continued to slip to fresh multi-month lows.

​$65.00 has been the key area since early 2023, so this may hold as support. Meanwhile, buyers will need a close back above $68.00 to suggest at least a short-term low.

WTI crude oil chart Source: IG
WTI crude oil chart Source: IG

​Natural gas edges lower

​The natural gas price has drifted lower from the highs of earlier in the week, but the uptrend remains in place.

​Short-term weakness might target the lows of last week at 3800, and then further towards the 50-day simple moving average at 3667.

Natural gas chart Source: IG
Natural gas chart Source: IG

This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa 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.

Speculate 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

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Monday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.

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.