Gold price stalls while oil price continues to climb

Gold is still unable to clear $1480, while oil is busily pushing higher once more.

Gold stuck fast below $1480

It continues to be a frustrating time for gold bulls – the price has failed to break $1480, with repeated pushes to this level running out of steam.

So long as this remains the case then a more bearish prevails, at least in terms of a drop back towards rising trendline support from the 12 November low. As long as this holds, we may, eventually, see a rebound in gold that takes us through $1480.

WTI keeps on climbing

A steadier trend has emerged over the past few days for WTI, as the price climbs towards $62.56.

Dips towards the 50-hour simple moving average (SMA) at $60.84 continues to find buyers, with a steady series of higher lows and higher highs.


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.