CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

Gold price and oil price continue to rally

A weaker dollar has helped to allow both gold and oil to move higher in early trading.

Gold shows no sign of slowing down

A pullback yesterday from Wednesday’s highs has resulted in yet another higher low, with the gold price rallying from the 200-hour simple moving average (SMA) at $1765.

A continuation of the uptrend seems likely, which would bring $1790 into view. Bears need to see a move back below $1760, and then below $1750, to suggest that a bigger move lower is in play.

Brent keeps moving higher

Brent crude's breakout at the beginning of the week continues, although in a fairly sedate fashion.

Further gains head towards $44.00, while the bearish view would need to see a drop below $41.00, followed up by a test of the $40.00 support.


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