Gold price and oil price both looking stronger
Gold has hit a one-month high, while oil is looking for more gains after stabilising over the past two sessions.
Gold bolstered by risk-off atmosphere
Gold has enjoyed an excellent week so far, rallying to the 50-day simple moving average (SMA) at $1483 and hitting its highest level in almost a month.
Further gains target $1495 and then $1515. Dips towards $1465 may provide further buying opportunities, with little sign so far of any near-term reversal.

WTI readies for break higher
For the moment, the price of WTI has managed to stabilise, with small gains over the past 36 hours – a firm defence of $55.00 was followed up by a push back to $56.50 that put the price back above the 50-hour SMA ($56.16).
Now the price must push on above $56.50 to confirm a more bullish view. A dip back to $55.00-$55.50 would test this bullish view, but a bearish view requires a move below $55.00 to open the way to $52.93.

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