Gold and Brent diverge, as gold price hits six-year high
Gold has surged into a fresh six-year high, while Brent looks set to resume recent sell-off.
Gold surges into six-year high
Gold managed to surge into a six-year high after US President Donald Trump proposed 10% tariffs on $30 billion worth of Chinese imports, starting on 1 September. Whether that will come to fruition remains to be seen, yet we are seeing risk-off sentiment permeate throughout markets to the benefit of gold.
With the price having broken through that $1453 level, there is a good chance that we will see further upside come into play from here. Watch for a break below $1430 to negate this short-term bullish signal.

Brent losses to persist after head and shoulders
Brent is turning lower once more following on from a Friday rebound.
The sharp decline last week provided a bearish head and shoulders completion after price broke below $61.08. That points towards further downside from here, with the next major support level coming at the $60.00 handle.

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

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
1In the case of all DFBs, there is a fixed expiry at some point in the future.
Turn knowledge into success
Practice makes perfect. Take what you’ve learned in this commodities strategy article, and try it out risk-free in your demo account.
Ready to trade commodities?
Put the lessons in this article to use in a live account. Upgrading is quick and simple.
- Deal on our wide range of major and niche commodities
- Protect your capital with risk management tools
- Enjoy some of the best spreads on the market – Spot Gold from 0.3 points
Inspired to trade?
Put the knowledge you’ve gained from this article into practice. Log in to your account now.
Live prices on most popular markets
- Forex
- Shares
- Indices
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.