19.12.2014 - The fall of oil has resumed
The price of gold remains stable near the level of $ 1200 per troy ounce, despite a number of factors that contribute to the decline in prices. Thus, the Fed said earlier about the refusal to hold rates at current levels for a long period of time and the interest rates are likely to be raised in the first half of 2015. Statistics on the labor market in the US, where the number of initial claims for unemployment benefits fell to 289 thousand, compared with an expected 297 thousand has strengthened the dollar. Demand for gold is supported by purchases in Asia due to the holiday season. We forecast growth in demand for gold from investors because of concerns about the future prospects of growth in the stock markets. Our medium-term outlook remains positive.
The price of Light Sweet crude oil could not continue correction and returned to the nearest minimum. It is worth noting that the previous increase was due to technical factors, and the fundamental factors continue to put pressure on the quotes. Thus, countries the OPEC left its oil production quotas unchanged, and oil production in the United States continues to grow. Weakening global economic growth is also a key reason for the growth of imbalances between supply and demand in the market. We forecast a further decline of quotations to the level of $ 50 per barrel, and see no reason to change the negative trend in the near future. The medium-term negative outlook remains unchanged.