By the time this article was written, the quotes for September futures for Brent crude on the ICE Futures Exchange had fallen by 0.27% or 0.17 p., to $63.20 per barrel. The cost of September futures for light WTI crude oil on the New York Mercantile Exchange NYMEX rose 0.12%, or 0.07 p., to $56.27 a barrel.

Brent Crude (ICE)

WTI Crude Oil (Nymex)

Positive dynamics of the price can boast such an important asset as gold. If at the time of the opening of the trading session this asset was trading rather sluggishly, very soon the trading became more lively, as investors expect a very important message on the basis of the meeting of the US Federal Reserve. At the moment, the quotations of the August gold futures on the New York Mercantile Exchange are trading at around $1,420.15 per troy ounce (+ 0.06% or 0.85 p.).

Gold (Comex)

Let me remind you that at the close of trading on Friday, this asset fell in price by 0.5% after the day before it fell sharply to the lowest level in the last three weeks. The reason for the strong drop in prices was the decision of the European Central Bank to keep interest rates unchanged.
At the moment, all investors' attention is directed at the Fed meeting, which should take place from July 30 to July 31. Market participants believe that following the meeting of high officials of the Fed will be announced about the reduction of the interest rate by 25 basis points.

Such a decision would contribute to the stabilization of the market, and would become a pretext for a further decline in the prices of gold and other reserve assets. However, one should not lose sight of the fact that the gold asset failed to strengthen against the background of the instability of the Asian stock markets, the political crisis in Hong Kong and even the expected failure during the negotiation process between the US and China.

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