The price of gold continued to decline in connection with the release of positive statistics in the US, where the volume of orders for durable goods rose in October by 3.0%, against the forecast of growth by 1.6%. At the same time, personal consumer spending grew by only 0.1%, which is 0.2% less than analysts' expectations. Sales of new homes in the US rose to 495 thousand, which is 5 thousand worse than expected. The volatility in the coming days will be low. The focus of investors will be on the Fed's decision on interest rates in December, an increase of which has already been partially priced in, but will lead to a further decline of interest in the metal. We forecast a drop in the near future.
The price of Light Sweet crude oil continues to consolidate around the level of 43 dollars per barrel after the decline has stopped. It is worth noting that the increase in geopolitical tensions in the Middle East had a short-term impact on investor sentiment. It is worth noting that US crude oil inventories rose by 1.0 million barrels, which was 0.2 million barrels less than the forecast. Investors’ activity in the coming days will be reduced in connection with the celebration of Thanksgiving Day in the United States. We expect falling prices in the medium term, but we can see an upward correction in the near future.