Stability of oil and gold fall slightly

Gold price technical analysis 30 - May, 2013

Settled futures prices for crude oil the U.S. Qrb $ 105 a barrel in electronic trading on the New York Mercantile Exchange on Tuesday, with the expectation the market for data from China for signs of recovery for the activities of manufacturing may be a marked increase of fuel demand in the second-largest country in oil consumption in the world.

The nearest contract maturity of the oil the U.S. scored the first decline in seven sessions on Monday after he entered Spain’s fourth largest economy in Europe in the second recession in two years, hit it with the slowdown in the pace of growth in the United States.

Prices also may be affected by the expectations of analysts sixth weekly increase in U.S. crude inventories and increased OPEC production in April.

At the same time, gold prices rose slightly on Monday, with the improvement of the technical expectations after gains last week, but the precious metal finished April trading slightly lower in a narrow trading range.

The price of gold fell about 0.3 percent in April to record three consecutive monthly declines for the first time since 2000. And undermined a group of strong U.S. economic data the market in hopes to resorting Federal Reserve (Fed) for further monetary easing, which impact negatively on the appetite to invest in the precious metal.

The price of Spot gold 0.1 percent to 1664.20 dollars per ounce by the time 1942 GMT.

The contract fell U.S. gold futures for June delivery settled 60 cents to 1664 USD/Troy an ounce.

The spot price fell 0.9 percent for silver to 30.96 dollars an ounce