Commodities Historical Charts - Grains, Metals and Energy Price HistoryFX Leaders

Commodities Charts and Historical Prices

The historical commodity price charts are viewed by the traders to predict the future price movements in commodities. The past behavior of commodities and significant events of the past can be analyzed with the help of historical commodity price charts. Traders can use the long- term commodity movements of the past to predict the future trends of commodity prices. Current market trends can also be seen through commodity charts. Just like forex trading charts, commodity price charts also come in all of the usual formats, including line, bar and candlestick charts.
In the commodity exchange market, the most famous and most frequently traded commodity is gold. The precious metal, which is traded under the symbol of XAU/USD in the commodity exchange market, is the world's oldest mode of exchange. The historical prices of gold in an all- time chart suggest that it dropped to its lowest level of $ 238.77 in December 1970, when the gold standard came under extensive from the USD. On the opposite side, in the all-time chart, the gold prices hit their highest level of $ 2,188.20 in February 1980, when high inflation struck the globe, due to strong oil prices after Soviet intervention in Afghanistan and the impact of the Iranian revolution. These geopolitical tensions provoked investors to move into the commodity market.The second most important commodity in the commodity exchange market is the silver. It is traded in financial markets under the symbol of XAG/USD. If we look at the historical prices in the all-time chart for silver, the lowest price for silver can be seen as $ 4.74 per ounce in January 1934. The sharp decline in silver prices was caused by the increased silver supply in China and the world after World War II. The economic crisis during the war urged economies to adopt the gold standard, and as a result, the supply of silver increased. The highest spike in silver prices in its all-time historical chart was $ 119.44 in January 1980. The sudden rise in silver prices was caused by an attempt by the Hunt Brothers to corner the silver market. They were probably holding one-third of the entire global supply of silver at that time.
One must learn to analyze the price movement of commodities, in order to predict future prices. The only way to do this is by reading historical commodity charts. However, one needs to learn how to read these charts before starting to trade in commodities, as they are very useful in providing trading signals. As we have already mentioned, just like forex, commodity price movements can also be visualized with the help of different types of charts, including line, bar and candlestick charts.If we look at candlestick charts, there are two types of candles in terms of body and trend, i.e. bearish, black or red, and bullish, white or green. These candles also suggest the opening, high, low and closing levels of the commodity. Two or more bullish candles side by side, with the last candle giving the new highest level, indicates a "long position" trading signal, whereas two or more bearish candles side by side, with the last candle giving the new lowest level, indicates "short-position" trading signal.