Gold decline slows and oil prices edge lower
So far the outbreak of risk aversion is not providing much of a lift for gold, while oil prices have dropped back from last week’s gains.
Gold
Gold buyers have stepped in around $1750 over the previous two sessions and so far today, slowing the decline, although that is far from the kind of firm upward momentum that would be needed to suggest a more sustained bounce.
Sellers will be looking for a resumption of the move below $1740, while to the upside buyers will hope a rally above $1765 could spark the prospect of a bigger recovery.
WTI
WTI continues to ignore the selloff in equity markets, dropping back only modestly from the highs of last week and holding above trendline support, helped along by the solidly high stochastic readings.
For now buyers will be looking for an additional higher low, somewhere above $68, and sellers will be hoping that a move below $68 can develop in coming sessions.
React to volatility on commodity markets
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.
See opportunity on a commodity?
Try a risk-free trade in your demo account, and see whether you’re onto something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on a commodity?
Don’t miss your chance. Upgrade to a live account to take advantage.
- Analyse and deal seamlessly on fast, intuitive charts
- Get spreads from just 0.3 points on Spot Gold
- See and react to breaking news in-platform
See opportunity on a commodity?
Don’t miss your chance. Log in to take your position.
Related articles
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.