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

​​Gold price stabilises, but silver and Brent crude price head lower​

While gold prices are holding firm, both silver and Brent crude have fallen in early trading.

Gold Source: Adobe images

​​​Gold rallies off the lows

​Monday saw the spot gold price fall back to the 50-day simple moving average (SMA), before rebounding.

​However, it remains at risk of further declines in the short-term testing the 50-day SMA once more. A close below this and below $2350.00 would bring the $2280.00 support zone into play once more.

Gold chart Source: ProRealTime
Gold chart Source: ProRealTime

​Silver continues to drop

​The silver price has continued its fall, after it reversed course last week.

​Unlike gold, the price was unable to recover most of Monday’s losses, and further losses today have taken the price down towards the 200-day SMA.

​At present there seems little sign of a rebound, which puts a test of the 200-day SMA in focus, for the first time since 4 March. Horizontal support at $26.03 is also coming into play.

Silver chart Source: ProRealTime
Silver chart Source: ProRealTime

​Brent heads lower

​Like many markets, Brent crude oil rebounded off the lows yesterday, but has now fallen again in early trading this morning.

​The price finds itself below the June lows at $76.60, and also below the February lows. Further declines take the price on to the January low at $74.80, and then down to the December low at $72.50.

Brent crude oil chart Source: ProRealTime
Brent crude oil chart Source: ProRealTime

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