Gold price and Brent crude oil price diverge amid US-China trade doubts
Gold and Brent diverge, as US-China doubts hurt the outlook for crude demand, while boosting havens such as gold.
Gold regaining ground amid indices sell-off
Gold’s role as a haven has seen its value rise amid a sell-off in global indices. That looks likely to persist, with the price rising back into the $1510 peak established yesterday.
Watch for a break through that level to signal possible short-term upside from here. However, we will ultimately need to see a break through the $1519 mark to start bringing a wider bullish picture into play. Until then, there is still a chance that the wider bearish trend in play since early-September could come back into prominence.
Brent rebound proves fleeting
Brent crude has started to show a more bearish picture once again, following on from a decline below the $57.59 swing low.
That has brought about the intraday creation of lower highs and lower lows. A break through $58.76 would certainly bring a more bullish picture back into play, yet further short-term downside looks likely until we see this bearish signal negated.
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.
Please see important Research Disclaimer.
Trade 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.
Live prices on most popular markets
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.