The price of gold has stabilized near the level of $ 1200 per troy ounce and continues to consolidate near this mark, despite the strengthening of the US dollar. It is worth noting that earlier in the Fed stated on intention to raise interest rates next year. It is worth noting that the demand in India begins to decline, but China's interest in gold will be supported in the coming months. Investment funds are also increasing their gold reserves on concerns about future growth on world stock markets. We do not expect strong price movements before the New Year, but keep medium-term positive outlook.
The price of Light Sweet crude oil has shown steady growth after the speech of the Minister of Oil of Saudi Arabia, at a conference in Abu Dhabi in which he said about the forecast of stabilization of the oil market in 2015, and stressed that oil will remain the main fuel in the next decade. Qatar's Energy Minister called on other oil exporters to cut "irresponsible" oil production volumes. It is worth noting that investors fixed position before the long weekend. Quotes of oil continue to be under the pressure of imbalance of supply and demand, as well as weak data on the Chinese economy. Despite the current upward movement, we recommend holding short positions and maintain a medium-term negative outlook.