Oil traded below $ 48 a barrel after the US signaled that it will not intervene in the market, even if the prices fall further. Futures fell more than 3% today as the market’s largest consumer of “black gold” rest because of the holiday of Martin Luther King. For the February delivery, which expire today, oil declined by $ 1.23 to $ 46.46 a barrel, while March delivery fell $ 1.19 to $ 47.94 a barrel. Brent March weaken its value by $ 1.33, or 2.7 percent, to $ 48.84 a barrel.
Analysts’ expectations are that oil will continue to fall against the backdrop of increased exports from the US, who scored 9.19 million barrels per day for January 9, as well as increased inventories last week reported.
Gold with a slight decrease in early session today. For immediate delivery precious metal fell 0.6 percent to $ 1,273.03 an ounce. According to most analysts, the trend remains positive due to the decision of the Swiss National Bank to lower interest rates and remove the ceiling exchange meetings euro, which has upward impact on the price of precious metals.
Silver for immediate delivery also noted 0.6% decrease to $ 17.67 an ounce, after earlier yesterday reached a level of $ 18.00 per ounce, which is the highest price from August 2013 onwards. Platinum did decline by 0.3% to $ 1,263.21 an ounce, while palladium rose 0.4% to $ 761.00 an ounce.