Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% 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.

Gold price and Brent crude price reach key trendlines

Gold and Brent trade around crucial trendlines, with recent gains coming into question.

Gold rallies into trendline resistance

Gold has surged back into trendline resistance over the course of the week, with risk-off sentiment driving up demand for havens. This brings us into a crucial area, where the ability to break through trendline and $1745 resistance will be key in dictating whether we can push onwards into a major bullish breakout phase.

Given the relationship between US 10-year yields and gold, much will likely be pinned on the potential for yield curve control from the US Federal Reserve (Fed). Should that be implemented, gold could be a big winner. They are holding off, for now, and questions could be asked as to whether there is enough momentum to drive us through this resistance zone quite yet. As such, this area of resistance is going to be key today.

Brent crude falls into key support zone

Brent has declined back into the $39.95-$40.28 support zone this morning, following sharp gains yesterday. The build in US inventories has not done Brent any favours, with continued builds in stockpiles highlighting the continued oversupply that exists.

Nevertheless, from a technical perspective, we are at a key crossroad for Brent. A break below trendline and horizontal support would point towards a potential capitulation for crude as we unravel some of the gains seen over recent months. However, the uptrend does remain in play, and another leg higher is still a possibility if the price remains above this key support zone.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
liveprices.javascriptrequired
liveprices.javascriptrequired
liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Sunday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.


For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of spread betting and CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.