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CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. 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 financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

​​Gold price at new record, while both WTI crude price and natural gas price rebound​

Commodities are rising once more, with oil and natural gas rebounding and gold hitting new highs.

Oil Source: Adobe images

​​​Gold still pushing higher

Spot gold prices have made fresh highs and show no sign of reversing course. Short-term weakness will target the previous peak at $2685.00, and then down to the lows of October around $2600.00.

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

​WTI makes further gains

WTI crude oil rebounded for a second day on Tuesday, returning to the 50-day simple moving average (SMA). Reports of an imminent Israeli attack on Iran have helped to support the price after it hit three-week lows last week.

​For the moment, positive momentum appears to prevail, with the price likely to test $72.45 and then on to the highs of October at $77.00. A reversal back below $70.00 could see last week’s lows tested again.

WTI crude oil chart Source: ProRealTime
WTI crude oil chart Source: ProRealTime

​Natural gas continues to recover

​The decline from the highs of early October has been halted, and since Friday’s low the natural gas price has continued to recover. Further short-term gains head back towards the October high at 3120.

​A close and reversal back below 2630 would mark the beginning of a fresh leg lower.

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

This information has been prepared by IG, a trading name of IG 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.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

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