17.12.2015 - Commodity prices fell after the Fed decision

The price of gold yesterday showed a rise in volatility, but continued to move within the local downtrend channel. We recall that yesterday the Fed raised interest rates by 0.25% to 0.25%-0.50%, and US regulators announced its intention to raise interest rates four times in the next year, which will reduce the attractiveness of investments in gold, compared with tools such as treasury bonds and strengthen the dollar. It should be noted that gold demand is supported by increased consumption in China and can grow in case of a significant correction on the US stock markets. We expect the consolidation of the gold price close to the current levels in the near future.

The price of Light Sweet crude oil continued to fall after the Fed's decision to raise interest rates. The strengthening of the US dollar adversely affects the price of oil. It is worth noting that yesterday was also published statistics on oil reserves in the United States, which last week showed an increase of 4.8 million barrels compared to the expected reduction of 0.3 million barrels per day. It is worth noting that congressional leaders reached an agreement to lift the ban on oil exports from the United States, which was adopted in the 70s of the last century. The negative situation in the oil market persists and the rise in prices in the near future is possible only within the correction. We maintain a medium-term negative outlook.

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