The price of gold stabilized after the recent decline, which was caused by the strengthening of the US dollar and increasing the likelihood the US Federal Reserve raising interest rates this year, which reduces the attractiveness of investing in gold compared to fixed-income assets. Today, in most European countries and the United States is a day off because of Easter and investor activity will be low. On the dynamics of trading will affect the data on the growth of US GDP for the 4th quarter of last year (12:30 GMT). Our medium-term outlook remains negative.
The price of Light Sweet crude oil rose on fixing positions before the long weekend, which is associated with the celebration of Easter. It should be noted that the reason for the recent decline was the decrease in the probability of a significant influence of the meeting of representatives of major oil producers in Qatar on 17 April. It should be noted that an excess of oil supply on the market is likely to continue this year and reserves will continue to grow. Our medium-term outlook remains negative and we are waiting for the continuation of current negative dynamics in the near future.