29.01.2015 - Oil reserves in the United States reached the maximum since 1982

The price of gold continues to consolidate below the level of $ 1300 per troy ounce. Fed statement did not lead to a strong price movement. Thus, the Fed declared their intention to keep interest rates at current levels at least until June. At the same time, the Fed noted the growth of the labor market and the expectation of strong growth in GDP. At the same time, the demand for gold is supported by investors' concerns about the next steps of the new Greek government and fall on stock markets. Demand in Asia declined due to higher prices, but investment funds and central banks continue to build up positions. We maintain our medium-term positive outlook for gold, but do not exclude fall of prices in the near future.

The price of American Light Sweet crude oil continued to decline against the publication of data on oil inventories in the US, which reached its highest level since the start of recording in 1982 statistics. Thus, inventories increased by 8.9 million barrels to 406.7 million barrels. At the same time, gasoline inventories decreased by 2.6 million barrels. The Fed's statement about the growth of the labor market and the US economy was able to partially compensate the negative statistics on reserves. After a long consolidation of price we can see a sharp price movement. The catalyst for the growth of volatility can become the data on US GDP growth in the 4th quarter, which will be published tomorrow. We maintain our medium-term negative outlook and recommend holding short positions.

RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.