Morning report: Oil near 5-year lows, gold continues to fall

Oil traded near the lowest levels of almost 5 years, and this was provoked by speculation that US inventories will remain at the highest levels since June. Futures little changed after falling 2.1% yesterday .. West Texas Intermediate for the February delivery traded for $ 53.66 a barrel, up 5 cents up from yesterday’s prices. Brent for the February delivery rose 3 cents to $ 57.91 a barrel. This year oil fell by nearly 45%, which is the biggest drop since 2008 amid the highest output from the United States for more than 30 years.

Gold continues to fall against the backdrop of the stronger dollar. Bullion for immediate delivery fell more than 0.2% to 1 181.05 US dollars an ounce. The precious metal fell 1.1 percent yesterday. For the February delivery gold saw a slight change as traded price of 1 $ 182.20 an ounce, compared to 1 $ 181.90 yesterday, when the price fell by 1.1% Silver for immediate delivery fell 0.3 percent to $ 15.75 an ounce. In yesterday’s price fell by 1.6% Spot platinum rose by 0.3% to 1 204.25 per ounce, making a rebound from yesterday’s decline of 1.3% palladium fell to $ 809.95 an ounce to $ 810.25 yesterday.

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