10.08.2015 - The price of oil keeps negative momentum

The price of gold showed a slight increase at the end of the week amid falling US dollar. The mood of investors depend on expectations about the timing of the Fed raising interest rates, which has traditionally had a strong influence on the course of trading. It is worth noting that the low demand in Asia, and investment funds continue to put pressure on quotations of the metal. In case of growth of risks on the market, we can see an increased interest in defensive assets such as gold. The potential for further price fall is down, but we see no reason to change the current dynamics to the positive trend.

The price of Light Sweet crude oil has continued to decline amid sustained oversupply of oil on the market, which according to the experts is about 2 million barrels a day. Investors are also concerned about the weak data from China, which has reduced the trade surplus to 43 billion in July. Imports in the country for the year decreased by 8.1%. We expect a further fall in prices, but its potential is still low due to the likely reduction in the production of shale oil in the United States at a price below the current levels.

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