Gold price and oil price both move higher
Gold and oil are both looking to build on a strong end to 2019, with early gains in trading so far.
Gold builds on strong gains
Last year was a good year overall for gold, despite the weakness from August to November.
But with the price having stabilised above $1450, a higher low has been created, and now the price has cleared the late October high around $1515 a move towards $1557 can be contemplated. A move back below $1500 might raise the prospect of a drop back towards $1460.
WTI steadies above $61
Having broken through trendline resistance from the April high last week, the WTI price has stabilised above $61 and is now looking to resume its move higher, heading back to $62 and higher.
Dips towards $58 may provide fresh buying opportunities.
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.