Oil to drop to 5-year lows, gold rose

Oil fell for a third day to the lowest levels of 5 and a half years, which strengthened the views that the “black gold” will continue with the bearish market and in 2015. Futures fell 1.3 percent in aziyatskata session after last week declined 5.1% Iraq plans to increase exports this month, and the President of Venezuela will be on a visit to China to meet with some members of OPEC to discuss future policy of the organization.

Brent for February fell 71 cents to $ 55.71 a barrel, and for 2014 the decrease was noted that more than 48% for the February oil supplies fell by 1% or 54 cents to $ 52.15

Gold rose above 5-week low against the policy of the European Central Bank on quantitative easing. Bullion for immediate delivery traded at a price of 1 $ 190.94 an ounce. For the February delivery gold dropped to 1 $ 187.30 an ounce.

Silver for immediate delivery rose 1.9 percent to $ 16.04 an ounce. The metal lost 19% of its value in the past year, and for 2013 the decrease, which scored 36% Spot platinum added 0.5% to its value to 1 $ 207.88 an ounce, while palladium rose 0.5% to $ 799.25 an ounce .

Varchev Finance

 Varchev Traders

Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance