Gold continues to rise against the backdrop of the expected stimulus from the ECB, oil falls

Oil traded below $ 47 a barrel amid forecasts of an increase in crude oil stocks in the US. Futures weakened after the biggest consumer, is likely to expand their stocks by 2.4 million barrels last week. West Texas Intermediate for March delivery traded at a price of $ 46.78 a barrel, while the February delivery fell to $ 46.39 or $ 2.30 from yesterday. Brent for March fell 85 cents or 1.7 percent to $ 47.99 a barrel.

In the coming days will likely see a new drop in the price of "black gold" because of the likely increase in US stocks.

Gold reached a level of $ 1.300 per ounce in the Asian session, and then fell to $ 1,293.37 an ounce, amid expectations of economists to increase incentives from the European Central Bank. Supplies for the February gold rose by 1.4% and put $ 1,294.20

March silver rose 1.2 percent to $ 17.95 an ounce, after a previously reached $ 18.04 per ounce.

Platinum for the April delivery rose 1.4 percent to $ 1,286.60 an ounce, while March palladium rose 3.2% to $ 778.75 an ounce, which is the largest increase of 21 November, until now.

Price expectations of precious metals to increase in the coming days amid expectations the European Central Bank quantitative easing. In 2008, after stimulus by most central banks gold rose by over 70% by 2011.

Varchev Finance