The price of gold continued to fall and reached the level of 1190 dollars per troy ounce and currently continues to consolidate near the price level of $ 1,200 per troy ounce. It is worth noting that the strengthening of the US dollar and the statement of the ECB on the keeping the Greece in the euro zone led to a drop in prices for the metal. Despite this, the risks associated with the debt problems of Greece may lead to increased demand for defensive assets in the coming weeks and to increase the attractiveness of investing in gold. We maintain our positive outlook for the medium-term, but in the near future we can see a decrease in prices.
The price of Light Sweet crude oil has stabilized near the level of 58.00 dollars per barrel, and investors are in no hurry to accumulate positions before the publication of data on oil and petroleum products in the US tomorrow. The number of drilling rigs in the United States continues to reduce and for the last week oil production also fell slightly. Despite this, the OPEC countries are increasing oil production, which leads to the preservation of excess oil on the market. The negotiation process on the Iranian nuclear program came into the second scene, but in the summer again will affect the volatility of prices in the market. Potential for further growth is negligible and we keep the medium-term negative view on the oil amid the imbalance of supply and demand on the market.