27.06.2016 - Interest in gold has grown considerably
The price of gold has stabilized after the strong growth on Friday, which was caused by the results of a referendum on Britain's membership in the EU, where about 52% of voters supported the country's exit from the EU. It is worth noting that gold is traditionally considered as a defensive asset and growing demand for the metal in times of market volatility. At the moment, analysts are trying to assess the impact of this event and the process of country's exit from the EU. In the near future the dynamics of trading will affect the statements the ECB (17:30 GMT) and the Fed’s chairwoman on Wednesday. Given the high level of tension on the market, gold prices may continue to rise in the near future up to 1400 dollars per troy ounce.
The price of futures for Light Sweet crude oil corrected today after showed a significant reduction on the background of falling demand for risky assets after the referendum on the UK's membership in the EU. Fears of a slowdown in economy of the EU and the UK, as well as the impact of this process on the other countries are negatively displayed on the oil price. The volumes of oil production in the US continue to decline gradually, but increased production in other countries, compensates for this reduction. Our medium-term outlook remains negative, but the current correction may continue today.