The price of gold, after some consolidation near the important level of 1200 dollars per troy ounce, showed strong growth against the background of the negative dynamics of the stock markets and falling oil prices, which increased the demand for defensive assets. Today, there is a possibility of strong volatility after the release of the US inflation statistics (13:30 GMT), the indicators that are key to the Fed's decision with respect to time of rising interest rates. Positive data on inflation will lead to a drop in the price of gold. Our medium-term outlook remains negative.
The price of futures on Light Sweet crude oil may not continue to grow and began to be corrected after in the United States was published data on oil inventories, which increased by 2.2 million barrels, against the forecast of 3.2 million barrels. The negative impact on the price had a decline in expectations about the possible freeze in crude oil production in Iran. Today, the price dynamics will affect the movement of the US dollar and US inflation statistics (13:30 GMT). We forecast a drop in oil prices today, and keep the medium-term outlook negative.