Gold price falls again as oil price holds steady

Gold is still dropping, remaining in a descending channel, while WTI is trapped below $35.

Gold remains in retreat

Gold continues to decline, creating a lower low around $1710, following on from the lower high on Monday at $1735.

It continues to hold a descending channel, with additional downside heading towards $1700, with a rebound heading towards $1730.

WTI drifts below $35

It seems as if WTI has finally exhausted itself, as the volatility of the first months of the year gives way to somnolence, with a tight range in place now for almost a week.

Gains have stalled below $35.00, but the price has shown little inclination to move below $33.50. This tight range will need to break to provide a more definitive longer-term view.


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

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.