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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
 Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

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Gold edges higher while oil bounce continues

Gold’s volatility has continued to subside, with the price edging up, while oil has managed to make further headway after bouncing from support.

Source: Bloomberg

Written by

Chris Beauchamp

Chris Beauchamp

Chief Market Analyst

Publication date

Gold

Dip buyers continue to push gold slightly higher, but there is still much ground to be made up before it can be said that a more bullish view has emerged.

Further gains in the direction of $1760 would be welcome for longs, but a close above $1765 is still needed to firmly establish the bullish view. A renewed decline still targets $1685 support.

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WTI

The bounce from support at $65.46 continues, leaving the impression that a double-bottom has formed. Now the price targets trendline resistance from the July peak, suggesting a test of resistance nearer to $71.

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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. 

Professional clients trading spread bets and CFDs can lose more than they deposit.

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