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Commodities

In addition to our vast range of commodity futures, we now offer commodities with no expiry points

Live commodities prices

Markets Sell Buy Updated Change
Spot Gold
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Spot Silver (5000oz)
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US Light Crude
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Brent Crude
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Natural Gas
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Prices above are subject to our website terms and conditions. Prices are indicative only.

Find a commodity to trade

Use our market finder tool to find news, videos, analysis and data on the commodities you want to trade.
Or browse live prices for popular indices.

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The new way to trade commodities

Our new commodity product enables you to take a short-term view on 47 key commodity markets.

The new offering works in the same way as an index CFD. And just like an index position, you’ll pay a funding charge for holding your commodity position overnight.

As there are no fixed expiries, we are also able to offer continuous charting on these markets. This means your technical analysis will be available as long as you want it. We have used past data to backdate our charts for the last three to five years, so you can get an accurate historical look.

How do we make our prices?

In the absence of a continuously traded underlying market, we have created an algorithm to derive a price from the forward curve of each commodity. It will automatically calculate and apply day-to-day funding requirements.

 

  • Lower spreads

    Enjoy some of the best commodity spreads on the market with no insurance costs, including on gold and oil

  • Increased transparency

    As a continuous stream, your profit/loss will be clearer over the position's lifetime and with a daily funding charge for holding a position overnight, there's no need to close on expiry and open a new position

  • Continuous charting


    Take advantage of technical analysis, available as long as you want, and backdated price charts for the last three to five years

How do we make our prices?

To price these markets we use two futures contracts on the underlying commodity. For each market we look at the contracts that have sufficient liquidity, then use the two with the nearest expiry dates.

The one that has the closest expiry date is called the front month contract, and is labelled ‘A’ in our diagram. The one with the second-nearest expiry date is called the back month contract and is labelled ‘B’.

As soon as the previous contract expires, the price we offer is equal to the price of ‘A’. When ‘A’ expires, ‘B’ becomes the front month contract, and our price is equal to the price of ‘B’.

In between these two expiry points, our price gradually moves from the price of ‘A’ towards the price of ‘B’. Depending on the commodity, the price of ‘B’ can be higher or lower than the price of ‘A’.

Overnight funding charges for these markets reflect one day’s movement along the forward curve from the price of ‘A’ towards the price of ‘B’.

  • CFD product details

    Full commodities CFD details, including trading hours, spreads and margins.

  • MT4 product details

    Full commodities MT4 contract details, including dealing hours, spreads and margins.

Why trade commodities with IG Bank?

  • Unique range of markets

    Trade CFDs on a wide range of popular and niche metals, energies and softs

  • Sophisticated risk management

    Use our risk management tools to manage your positions even in volatile times

  • Trade commodities on margin

    Trade CFDs to gain full exposure with just a small initial deposit, but remember with leverage comes increased risk

  • Low spreads on popular markets

    Trade on Spot Gold from 0.4 points, Spot Silver from 3 points and US Light Crude from 6 points

Commodities

Below are our contract spreads for CFDs and MT4. Download MT4 to get faster execution and greater automated trading (only available for gold and silver).

 

CFDs

MT4

Spot Gold 0.3 0.3
Spot Silver 2 2
Oil - US Crude 2.8 2.8
Oil - Brent Crude 2.8 2.8
Chicago wheat 0.6 n/a
London sugar 0.6 n/a
  Full CFD details Full MT4 details

Commodity futures

View example

Buying Spot Gold: detailed

  CFD
Market and price Spot Gold 1447.96/1448.46
Trade

Buy at 1448.46

Trade size Buy 1 lot (1 lot = $100 per point)
Margin required

Margin required is 0.7% of total exposure = $1448.46

What happens next? Gold rallies $10 over the day. At 10pm, the cut-off time for funding, the market is at 1458.46
Funding

0.048 x $100 = $4.80*

(tom-next rate + 0.3% pa admin fee) x trade size

Close

The market continues to rally and you sell your position to close at 1463.46

Gross profit

$1500

1463.46 – 1448.46 = 15

Value per point = $100

15 x $100 = $1500
Costs

0.5 point IG spread (included)

Funding cost = $4.80
Net profit

$1495.20

What if...

If the market dropped 15 points instead ($15):

$1500 + $4.80

Net loss = $1504.80

 

Open an account now

It’s free to open an account and there’s no obligation to fund or trade.

New to commodities trading?

Commodities are the basic building blocks of the global economy. They are natural resources traded on dedicated exchanges around the world. 

There are two types of commodity – soft and hard. Soft commodities are typically agricultural like wheat or sugar, whereas hard commodities are metals or energies like silver and gas.

The production and consumption of commodities depends on many factors, including:

  • Supply and demand 
  • The weather
  • Economic and political events
  • The US dollar (commodities are normally priced in the US currency)

As a result of all these factors, commodity prices can fluctuate significantly.

How and where commodities are traded

Commodities are traded on a number of exchanges that specialise in particular markets.

Commodities are also generally traded as futures contracts. These are simply agreements to trade an asset at an agreed price and date in the future. This enables you to trade the contracts themselves without ever having to own the underlying asset.

Related links

Watch Sara explain the basics of
commodities trading in less than two minutes

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