Gold price little changed as oil price falls sharply
While gold prices are stuck fast, oil prices have resumed their downward move, as a general risk-off move envelopes markets.
Gold stuck in narrow range
Gold has barely moved in recent sessions but it is interesting that the price has not been able to hold on to its intraday highs this week. This indecision raises the risk of a move back below $1900 that could spark a bigger pullback. Alternately, a rise above $1920 would spark a more bullish outlook.
WTI continues to drop
Oil prices have resumed their downward move, and WTI is now set to test the 200-day SMA ($37.89) from above. A break below this could see a test of the $36.70 support zone of September and October, while any rebound will need to clear $39.20 and trendline resistance from the mid-October highs.
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.