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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.

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Gold price steady while oil price falls

Gold is holding above $1600 while oil has dropped back overnight.

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Commodities Gold
Written by: Chris Beauchamp | Chief Market Analyst, London
Publication date:

Gold holds above $1600

The gold price continues to hold above $1600, with $1640 the next target to the upside.

From here $1670 and $1705 come into view. A deeper retracement brings $1560 as support back into play.

Gold chart Source: ProRealTime
Gold chart Source: ProRealTime

Brent retreats from recent highs

Oil is once again falling, but for the time being Brent has held above $28.00.

A rally through $30.00 clears short-term trendline resistance, and if it can clear $30.50 then the next target becomes $32.30, where the bounce last week ran out of steam.

Brent chart Source: ProRealTime
Brent chart Source: ProRealTime

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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. Clients can lose more than they deposit. All trading involves risk.

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