Gold and Brent prices move into key support levels
Gold and Brent crude have drifted lower, bringing the prices back into key support levels.
Gold declines into key support level
Gold has been grinding lower over recent days, with the price falling into the $1493 support level.
That level is going to be key for the day ahead, with a break below that point signalling the potential for a leg lower towards $1480. To the upside, a break through the $1508 level would be required to bring about a more bullish outlook.

Brent turning into trendline support
Brent has been drifting lower since the Wednesday peak, with the price heading into trendline support once again. The reaction to that line will be key, with the pair still showing the potential for a bullish turn before long.
It is worthwhile watching for a bullish crossover in the stochastic oscillator to bring a more positive outlook. To the downside, watch out for a break below $58.64 to bring about a resumption of the wider bearish trend.

This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa 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.

Speculate on commodities
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.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only