05.07.2016 - The fall of oil may continue
The price of gold was not able to continue to grow on the background of low activity of investors due to the holiday in the US yesterday. Demand for gold has increased significantly after the referendum in the United Kingdom where supported the idea of the country's exit from the EU. This fact will lead to slower growth of the global economy and will have a negative impact on the stock markets in the future. In addition, concerns about weak growth in the world will encourage central banks to lower interest rates, which in turn will be positive for the gold price. Despite the possibility of correction of prices in the near future, we expect further growth of gold prices with the potential of reaching the level of 1400 dollars per troy ounce.
The price of futures for Light Sweet crude oil could not continue to grow and began the correction against the background of investors' concerns about the pace of global economic growth. Furthermore, growth in US drilling activity can lead to stabilization and increase in the volumes of oil production. Despite the instability of supply in certain countries, investors expect saving of oversupply of oil on the market in the near future. We expect a further drop in prices in the coming months.