The price of gold has stabilized near the level of 1240. On one hand the demand is increasing due to growth of concerns about the future prospects of stock indexes, but on the other hand, a stronger dollar reduces prices. Growth halted in connection with the labor market in the United States, where the number of initial applications for unemployment benefits dropped to its lowest level in 14 years - 264 thousand. Asian demand has weakened slightly, but in the 4th quarter will traditionally grow due to the holiday season in China and India. Today the course of trading will be affected by the data on the housing market in the United States (12:30 GMT). We recommend holding long positions and maintain a medium-term positive outlook for gold.
The price of Light Sweet crude oil corrected after reaching the psychologically important level of 80.00 dollars per barrel. The reason for the fall was the data on oil reserves in the United States, which grew by 8.9 million barrels, versus the expected increase by 2.3 million barrels of oil. In addition to rising inventories in the United States, the reason for the fall is the low demand from European and Asian consumers and the statements of Saudi Arabia, Kuwait and Iran concerning the refusal of decline in oil production. We expect a technical correction of oil, but maintain a medium-term negative outlook for.