09.09.2016 - American crude oil inventories sharply declined

The price of gold fell within the correction after rose amid weak US data on the index of business activity in the service sector, the Fed lowered the probability of raising interest rates in September. The uncertainty n the equity markets also supported the demand for defensive assets such as gold. in the coming months we will see an increased demand for gold in connection with the start of the festive season in India and China, which are the largest consumers of the metal in the world. Our medium-term outlook remains positive due to the expected increase in interest in safe assets and the volatility in the coming weeks, according to our estimates will be increased.

The price of Light Sweet crude oil continued to rise after in the US was published data on oil inventories which declined by 14.5 million barrels against an expected growth by 0.6 million barrels. The reason for this decline were the supply disruptions from the Gulf of Mexico due to a tropical storm. It should be noted that this fact is of short duration and will not influence the oversupply of oil on the market. The growth of oil is restrained by the strengthening of the US dollar. The coming weeks will be volatile due to speculation about the future meeting of major oil producers in the energy summit in Algeria in late September. Our medium-term outlook remains negative with the objectives at 36-40 dollars per barrel.

RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.