12.05.2014 - Traders expect stabilization in Ukraine
The price of gold continues to consolidate around the level of 1290 dollars per troy ounce. Traders took a wait due to the tense situation in the eastern regions of Ukraine, where continues the anti-terrorist operation. Traders expect the easing of import policy in India, which is the second largest consumer of gold after China. Decline of the stock markets may positively affect the price of gold. We keep medium and long term positive outlook for gold quotes.
The price of American benchmark Light Sweet crude oil continues to consolidate around the level of 100 dollars per barrel. The reason for the sharp decline was the increase in the price of oil to the record levels since 1982. Support for high oil prices is provided by the tense situation in Ukraine, and limitations of oil exports in Libya by rebels. The attention of investors is also drawn to the outcome of negotiations between the West and Iran over its nuclear program. We keep medium and long term negative outlook for oil.