Skip to content

We want to clarify that IG International does not have an official Line account at this time. We have not established any official presence on Line messaging platform. Therefore, any accounts claiming to represent IG International on Line are unauthorized and should be considered as fake.
CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.
CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

Gold price falters as oil price bounce goes on

Gold has continued to drop back, while oil prices look like they are set to continue their climb.

Video poster image

Gold’s reversal puts it on a bearish footing

If gold is to revive the bullish view from earlier in the week then it needs to see a rally soon.

The price has lost ground over the past 24 hours, and with yesterday’s lows already taken out, it looks like we have more downside to come. Further declines head towards $1710, and then towards $1695.

Gold price chart Source: ProRealTime
Gold price chart Source: ProRealTime

WTI keeps climbing

As with indices, so with crude oil. The WTI price continues to climb after the breakout from the range at the end of May.

Higher lows have seen only shallow pullbacks, but we will need to see a drop below $35.00 to even suggest some near-term weakness, with lower highs and lower lows on the hourly chart providing confirmation. For the moment, we have no sign of this developing.

WTI price chart Source: ProRealTime
WTI price chart Source: ProRealTime

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.

  • 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

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.