Speculation in the US to increase oil reserves led to a fall in oil prices to near 5-year lows or $ 48 a barrel. Futures with a slight change after 4-day declines. West Texas Intermediate for the February delivery rose 19 cents, or $ 48.12 per barrel yesterday after they fell to $ 47.93 a barrel, the lowest sentiment from 21 April 2009 onwards. Brent for February fell by 3.08% or $ 2.01 to $ 51.10 a barrel yesterday, which is the lowest level since the end of April until now. In 2014 oil dropped almost in half after by OPEC announced that they will reduce supply despite the steep decline in the price, which is the largest decline since 2008 so far.
Gold rose to three-week highs against the decline in oil prices and in anticipation of the minutes from the Federal Reserve. Bullion for immediate delivery traded at a price of 1 $ 223.19 an ounce, which is the highest level since December 16. The precious metal, which 2 years in a row continues to depreciate pushed away from the one-month bottom level 1 $ 168.34 after it became clear that Greece could leave the euro zone. For the February delivery gold traded at a price of 1 $ 216.80 an ounce.
Silver for immediate delivery fell from $ 16.53 to $ 16.50 an ounce, after yesterday’s session began in Level $ 16.70 Spot platinum rose by 0.3% to 1 223.00 US dollars an ounce, while palladium saw a slight change to $ 802.50 an ounce.