Oil traded near $ 50 a barrel after Iraq announced readiness to increase supply by the end of the year. Instant oil supplies rose by 3 cents to $ 48.72 a barrel, after January 16 black gold rose $ 2.44 to $ 48.69 for barel.Brentat for March delivery fell 8 cents to $ 50.09 a barrel. From last year to now, oil is reduced by more than 50% after the market noted a glut, and by OPEC refused to reduce yields.
Gold reached a 4-month highs ahead of the European Central Bank, where they will decide future policy stimulus in the area. Bullion for immediate delivery rose 0.2% to $ 1,277.11 for the February delivery gold traded at a price of $ 1,279.00 per ounce, noting a slight decrease compared to January 16, when the price was $ 1,282.40 an ounce.
Silver for immediate delivery rose to $ 18.00 an ounce against $ 17.78 on Friday. The previous week, the precious metal rose by 7.8%, which is the biggest increase from August 2013 onwards.
Palladium fell 0.3% to $ 755.25 an ounce, which is the lowest level since October. The metal fell 5.6 percent last week.
Spot platinum was trading at a price of $ 1,266.50 per ounce, noting a slight decrease compared to the price on Friday, which was $ 1,267.13
Upcoming new incentives from the European Central Bank is likely to give new impetus to the positive direction of movement of precious metals.