CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved.

Gold price and Brent crude price break higher from consolidation

Gold and Brent crude continue their bullish trend, with upward breakouts coming after recent consolidation.

Gold breakout points towards further upside

Gold has managed to break through the $1818 mark this week, as this precious metal pushes into a fresh eight-year high on the way to the $1921 record high.

The wider bullish trend continues apace with this breakout, where further upside looks very likely. While we will see pullbacks along the way, further upside looks likely as long as we do not see the price break below the previous swing low. As such, a bullish outlook is in play, with a decline through the $1796-$1790 zone required to negate this current bullish view.

Brent surges into key breakout level

Brent crude has managed to tentatively break through the $43.91 level this morning, with the price hitting a fresh four-month high.

Given the recent trend of higher lows, this breakout points towards a likely continuation of the uptrend seen throughout recent months. As such, bullish positions are favoured unless we see a break below the recent swing low of $42.50.

This information has been prepared by IG, a trading name of IG Australia Pty Ltd. 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.

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

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

See more forex live prices


See more shares live prices


See more indices live prices

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.