Gold price and Brent crude price continue to gain ground

Gold and Brent crude continue to move higher, with record highs for gold coming on a near daily basis.

​Gold breakout brings fresh highs

Gold has continued its uptrend, with the break through $1984 signalling an end to the recent ascending triangle formation. With that in mind, we are looking for further upside to come as the bullish trend continues to play out.

We could see another consolidation or retracement phase come into play before long. However, whether that happens or not, a bullish outlook remains in play unless we see a break below the $1960 swing low.

Brent surges back towards key resistance level

Brent crude has been on the rise over the past week, with the price heading back towards the key $45.00 handle. With the price having broken below the $42.50 level last week, there was a risk that this recent rally was a retracement before price turned lower once more.

However, with the price failing to break out from this recent intraday trend of higher lows, price is now looking to negate that bearish possibility with a break through $45.00. As such, watch out for how price reacts to that key resistance level, as we look for a bullish continuation signal if that level breaks.

The information 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 Bank S.A. 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 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. See full non-independent research disclaimer.

React to volatility on commodity markets

Trade commodity futures, as well as 27 commodity markets with no fixed expiries.

  • 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

See opportunity on a commodity?

Try a risk-free trade in your demo account, and see whether you’re onto something.

  • Log in to your demo
  • Try a risk-free trade
  • See whether your hunch pays off

See opportunity on a commodity?

Don’t miss your chance. Upgrade to a live account to take advantage.

  • Analyse and deal seamlessly on fast, intuitive charts
  • Get spreads from just 0.3 points on Spot Gold
  • See and react to breaking news in-platform

See opportunity on a commodity?

Don’t miss your chance. Log in to take your position.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

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.