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Metals · dollar strength
Metals are priced in dollars, so currency strength moves the quote before anything about the metal changes. Keep the dollar visible alongside the instrument.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Metals and energy
Precious metals and energy in one market page: gold, silver, platinum and palladium alongside Brent and WTI crude, on the account terms high-volume traders compare before they switch.
Reference price feed
Prices, changes and 7-day trends on this board are illustrative, not a live feed, and the trend does not describe a real market move. Review applicable account pricing and terms before you trade.
Trend shown is the last 7 days.
Metals and energy trading hours and pricing conditions vary by instrument and region.
Account conditions
Conditions shared across IUX account types, not per instrument. Instrument-specific pricing, leverage, swap and margin figures live in the account terms.
Spreads are variable and can widen in volatile or thin markets. Leverage amplifies both gains and losses. Figures per the published IUX account comparison.
Compare accountsCoverage
Eight commodity CFDs in two groups. Precious metals: gold and silver against the US dollar, platinum and palladium, and gold quoted in euro and sterling for traders who would rather not carry dollar exposure alongside the metal. Energy: Brent as UKOIL and WTI as USOIL.
Gold against the dollar is the reference contract and is where spreads are usually tightest. Silver is typically wider and moves further on the same news. Platinum and palladium are thinner again, and the cross-currency gold pairs inherit the spread of the currency leg on top of the metal.
The two crude contracts price different grades from different delivery points, so Brent and WTI do not move as one instrument. The spread between them is itself a market, and each carries its own contract calendar.
Cost of carry
Pricing is set by account type, not by instrument. A Raw account prices from 0.0 pips with a fixed $7 per lot commission; Standard and Pro are spread-only. Spreads are variable and widen in volatile or thin markets.
Per-instrument average spreads and the overnight financing rate for each commodity are not published on any IUX page this build can read. They are not stated below rather than estimated. See note 2. The account terms are the authority until they are.
Trust and data
Every commodity symbol in the IUX instrument list, split by group. Per-instrument average spreads and overnight financing rates are not published by IUX on any page this site can read, so they are left unstated rather than estimated. The account terms are the authority until IUX publishes them.
| Instrument | Symbol | Group |
|---|---|---|
| Gold | XAUUSD | Precious metals |
| Silver | XAGUSD | Precious metals |
| Platinum | XPTUSD | Precious metals |
| Palladium | XPDUSD | Precious metals |
| Gold / Euro | XAUEUR | Precious metals |
| Gold / Sterling | XAUGBP | Precious metals |
| Brent Crude | UKOIL | Energy |
| WTI Crude | USOIL | Energy |
Instrument availability can vary by region and by account type. Check the instrument in your platform before trading.
Price drivers
An educational framework, not investment advice, and deliberately split: metals and energy respond to different inputs and merging them hides the part that matters.
01
Metals are priced in dollars, so currency strength moves the quote before anything about the metal changes. Keep the dollar visible alongside the instrument.
02
Metals carry no yield, so the return available elsewhere is the cost of holding them. Rate expectations and inflation prints reset that comparison.
03
Demand rises under geopolitical and financial stress, which is why metals can move against the macro picture for a stretch.
04
Inventory reports, refinery runs and demand revisions move crude on a schedule. The balance, not the headline, is what reprices the curve.
05
Production decisions and compliance with them change expected supply. Meeting dates are known in advance and the reaction usually is not.
06
Crude prices the risk to supply routes and producing regions, so it can gap on news that never touches an inventory number.
How to start
01
Use a demo account with virtual funds to see how orders, leverage and margin behave.
02
Check spreads, commission and leverage across the account types before choosing one.
03
Fund an account once you understand the terms and the risks.
Continue exploring
Move directly into another asset class without losing the distinction between them, or return to the market overview.
FAQ
Positions held past the daily rollover are financed, and the charge or credit depends on direction, size and the instrument. IUX does not publish a per-instrument rate or formula for metals or energy on any page this site reads. Check the swap figures in your account terms before holding a commodity position overnight.
Spreads are variable, not fixed, and widen when liquidity thins. Metals react to US data such as CPI and payrolls; crude reacts to inventory reports and OPEC decisions. Around a scheduled release both groups can widen sharply for a short window, then settle as depth returns.
Trading is available from 0.01 lots upward, and execution is market execution. IUX does not publish a maximum order size, position limit or per-instrument depth figure for commodities, so no ceiling is stated here. Confirm the limits on your account type before sizing a large commodity position.