CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure. CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure.

Gold and Brent crude prices diverge as gold heads towards record highs

Gold and Brent crude diverge, yet crude declines look likely to be short-lived as the uptrend kicks back into play.

Gold drives upwards yet again after overnight consolidation

Gold is heading higher once again this morning, with a deep retracement overnight ultimately resolving another leg higher.

As we push onwards, a rise through the previous peak of $1898 is expected as we push towards the record high of $1921. With that in mind, the uptrend remains intact, with further upside looking likely unless we see a break below the previous low of $1870.

Brent declines could bring buying opportunity

Brent crude has slumped into a deep retracement over the latter part of the week, bringing the price back below the 61.8% Fibonacci level.

This is likely to bring another leg higher given the wider bullish trend, with another turn higher expected before long. As such, a bullish outlook is in place unless we see the price break below the $42.50 low from Monday.


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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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