Gold price back below $1500 while oil price continues recent rally
While gold is under some modest pressure, the overall move higher is intact. Oil prices have rallied, but are still under pressure in the longer term.
Gold edges back below $1500
Gold continues to work off the gains of last week with a move back below $1500.
Most of the leap higher is still intact, however, so we may see buyers enter if the price moves back above $1492. Further declines head towards $1450.

WTI rallies but stuck in downward channel
Last week saw the price or WTI hold above $51 for the second time in three months.
Since peaking in mid-July, the price has fallen into a descending channel, with the slump last week hitting (and moving briefly below) the lower bound of the channel. The rebound would continue to head towards the top end of the channel, in the direction of $56. A move back below $53 would reinforce the bearish view established over the past few months.

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