The price of oil fell to 76 dollars a barrel during electronic trading today in Asia after the data for unexpected contraction in the services sector in the United States darken depreciation of the dollar. This week it became clear that lower demand has increased oil reserves of the largest energy consumer in the world more than expected. U.S. light crude for delivery in January to 0.4% cheaper to 76.15 dollars a barrel during electronic trading on the New York oil exchange. Oil futures ended Tuesday’s session to drop the price of 14 cents to 76.46 dollars per barrel, the lowest level last week. Compared to last Friday U.S. crude oil has dropped by 0.2 percent, but the beginning of the year its price was raised by 70%. He may continue to become cheaper now, if the data for unemployment in the U.S. market in November, disappointed analysts. They expect it to remain at a level of 10.2 percent for the second month. In the hours electronic trading on the international petroleum exchange in London Brent crude oil traded slightly decrease the price by 0.2 percent to 78.17 dollars per barrel.
(more…)

The price of gold fell by more than 4 percent on the London Metal Exchange today after the appreciation of the dollar reduced the attractiveness of the precious metal as an alternative investment. Dollar increase after the news about the financial difficulties of the Dubai government investment fund Dubai World, which reinforced fears in financial markets. Dollar Index, which monitors the rate of the dollar against a basket of six major currencies, rose by 1 percent today, after earlier this week dropped to their lowest level in 15 months. As a result, prices of all precious metals fell, led by silver. Gold with immediate delivery fell to 50.28 dollars, or 4.2 percent, to 1 138.10 dollars an ounce. This is the strongest decline in the price from 12 January to date. The February gold futures cheaper by 2.1% to 1 163.60 dollars an ounce in electronic trading at the stock exchange in New York. Thursday marked the third straight gold price record only within the last week. Compared to last Friday the price of gold has risen by 1,1 percent. Precious metals will probably noted fourth consecutive weekly increase. Consulting firm Standard Chartered Plc today released a report which shows that central banks are likely to be net buyers of gold this year, which never happened in the past two decades. This week it became clear that Sri Lanka has purchased 10 metric tons of gold from the International Monetary Fund for 375 million dollars. Previously, India and the island countries of Mauritius, respectively, purchased 200 tons of gold reserves of the fund against 6.7 billion dollars and 10 tons of gold to 71.1 million.
(more…)