The gold price is consolidating around the level of $ 1,100 per troy ounce. Strong price movement is forecasted after the Fed statement on the monetary policy. But even in the case of saving of interest rates at this meeting, the price of the metal will be under the pressure of expectations monetary policy tightening in December. Gold demand in India and China at the moment is lower than in the previous year, but in the coming months, it may grow. We expect a strong increase in volatility this week.
The price of Light Sweet crude oil continues to consolidate. Reducing the amplitude of price fluctuations indicates strong price movement in the near future. OPEC countries continue to reduce oil prices to retain market share. At the same time, negative for oil prices is the increase in exports from Iran. The decline in production of shale oil in the US will support the quotes, but this fact will have a limited impact on the price of oil. We are waiting for the Fed's statement on monetary policy, which will lead to an increase in volatility and expect lower oil prices in the medium term.