The price of gold yesterday showed strong growth at relatively low volumes due to the publication of statistics on inflation in the United States. Thus, the index fell by 0.1% in August. Core inflation for the year increased by 1.8% against the forecast of growth by 1.9%. This fact had a negative impact on the expectations of the Fed raising interest rates. Tonight will be published the Fed's statement on monetary policy (18:00 GMT). Saving the parameters of monetary policy will lead to an increase in gold, but we should follow the Fed's rhetoric regarding the future plans with respect to raising interest rates. We expect increased volatility today.
The price of Light Sweet crude oil fell after the publication of statistics on oil inventories in the US, which fell by 2.1 million barrels compared with an expected growth of 0.7 million bpd. At the same time, support for the oil quotes has become the news about reduction of shale oil production in the United States due to falling commodity prices. More active moves by investors are constrained by the expectation of today's publication of the Fed's statement on the monetary policy (18:00 GMT). Our medium-term outlook remains negative and we expect a drop in prices in the medium term, despite the possible increase in the near future.