24.12.2015 - Oil has grown due to a decline in US inventories
The price of gold shows growth after the recent downward correction. The tightening of monetary policy in the US will continue to put pressure on quotations of the metal. Negative according to our estimates will also be the expected strengthening of the dollar. Interest in gold may rise in case of a fall on stock markets, which will increase the interest in defensive assets. Demand for gold remains strong in China, due to seasonal factors. We expect low activity in the near future due to the holidays and expect a gradual decrease in quotations of gold to $ 1,000 per troy ounce.
The price of Light Sweet crude oil showed a strong rise yesterday after the publication of statistics on oil inventories in the United States, which last week fell by 5.9 million barrels per day against an expected increase of 1.4 million bpd. The price increase ,ay be supported by more cold weather. Despite the recent growth, its potential is still limited due to an imbalance of supply and demand of oil, which is likely to continue until the end of 2016. Our medium-term outlook remains negative, but we do not rule out further correction in the near future.