Gold price moves up as oil price gaps down again
Gold is little changed, but oil prices have fallen sharply once more.
Gold steadies after recent losses
The drop in gold last week has halted around $1863, and small gains since then have taken the price back towards the 100-day SMA ($1891). As noted on Friday, a break above $1914 and the 50-day SMA takes us into more positive territory. A reversal below $1863 and then $1850 suggests more losses are likely.
WTI pushes down again
WTI has gapped lower this morning, marking another big loss after two weeks of declines. Having crashed through several levels of support the price now targets $34.29 and then $27.58. A recovery above $35 might provide evidence that a low is in for now, with a bigger move higher targeting the declining 200-day SMA (currently $37.60).
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.