23.12.2015 - The price of gold was not able to continue to grow

The price of gold fell yesterday against the background of statistics on the growth of US GDP in the third quarter, which increased by 2.0%, which was better than the forecast of 1.9%, but 0.1% less than the previous estimate. We recall that in the second quarter it has grown by 3.9%. Today in the US will be released a large block of statistics and special attention should be paid to the data on the volume of orders for durable goods, personal income and consumer spending (13:30 GMT), as well as new home sales and consumer confidence in the country (15: 00 GMT). In the coming days will decrease the activity of the market and due to the holidays.

The price of Light Sweet crude oil shows a minor correction after a long consolidation near multi-year lows. Rising oil prices in the near future is possible only within the correction due to the steady pressure of a number of factors including the oversupply of oil on the market, the rise in US inventories and the expected increase in the supply of oil from Iran in the coming months. The potential of fall in the price has dropped significantly, but there are no reasons for the growth of price in the near future. We maintain a negative medium-term outlook for oil.

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