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macroJun 24, 2026, 5:26 PM

Gold and WTI Crude Slide Through Key Support Levels

Commodities are under pressure as gold and WTI oil break below important technical levels, according to Chris Beauchamp, Chief Market Analyst at IG.

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Commodity markets saw sharp declines on Wednesday, with both gold and West Texas Intermediate crude oil breaking through key support levels.

Chris Beauchamp, Chief Market Analyst at online trading and investing platform IG, highlighted the selling pressure in a note, stating that the action is concentrated in commodities as oil and gold are hit hard.

Gold futures fell below the $1,850 mark, while WTI crude dropped under $70 per barrel, both levels that had previously acted as technical floors. The moves come amid broader risk-off sentiment and a stronger U.S. dollar.

Source: FXStreet Forex News