Gold price and oil price both push higher

Gold is looking to maintain its steady gains, while oil prices are back at the early July peak as its rally goes on.

Gold still tiptoeing higher

The modest rally continues here for gold, as the price edges higher.

Last week saw the price drop back sharply from $1435, so a move above here provides a more bullish view and opens the way to $1455. A shallow rising trendline from the lows of last week would see support around $1425, with a move below here perhaps suggesting a drop back towards $1415.

Oil returns to early July resistance

Gains continue here, as the price establishes new higher highs and higher lows for WTI.

However, it needs to clear the 17 July peak around $58.50 to establish a breakout, so we may see some hesitancy around this level. A pullback towards $57.00 may find support, and drop back to $57.30 would establish a higher low.


This information has been prepared by IG, a trading name of IG Markets 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.

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
liveprices.javascriptrequired
liveprices.javascriptrequired
liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. All share prices are delayed by at least 20 minutes. Prices are indicative only.

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.