Futures for WTI crude oil fell by about 2%, dropping at the same time below $ 48 per barrel, which was associated with the publication of weak statistics on the US. Meanwhile, the price of Brent crude fell by more than 1%, approaching to the level of $ 57 per barrel

One report showed that retail sales in the US fell the third consecutive month in February, which was partly due to the bad weather in various parts of the country. But it is also a sign of continuing caution among American households, despite the improvement in the labor market and lower gasoline prices. Sales in retail stores and restaurants decreased by 0.6% last month and amounted to a seasonally adjusted $ 437 billion., Said the Ministry of Commerce. Retail sales fell 0.8% in January and 0.9% in December. Economists had expected overall sales will grow by 0.5% in February. Compared with a year earlier retail sales rose 1.7% in February.

Meanwhile, the Labor Department said import prices rose 0.4% in February from January, said on Thursday. Economists had forecast an increase of 0.2%. Compared with the previous year, prices fell by 9.4%. This marked the biggest decline compared to last year from September 2009. Import prices declined along with the sharp fall in oil prices. Oil prices fell to $ 100 a barrel last summer to below $ 50 a barrel by the end of January. Prices generally stabilized since then. Petroleum import prices rose 8.1% in February compared with the previous month, but decreased by 43.2% from February 2014. With the exception of oil, import prices fell by 0.4% compared to the previous month and fell by 1.8% compared with a year earlier. Meanwhile, prices of goods exported from the United States fell 0.1% in February from January, and decreased by 5.9% per annum.

Negative data reduced the optimism about the strength of economic recovery and forced investors to reduce expectations for a rate hike in the United States.

Investors will also continue to assess yesterday's data on stocks of petroleum products in the United States. Recall the week 28 February to 6 March crude oil reserves rose by 4.5 million barrels to 448.9 million barrels, while experts had expected growth to 4.8 million. Barrels. Commercial oil reserves in the US, according to figures remain at historical highs over the past 80 years. Oil reserves in Cushing terminal rose by 2.3 million barrels to 51.5 million barrels. Stocks has exceeded 50 million barrels for the first time on 31 May 2013.

April futures price for US light crude oil WTI (Light Sweet Crude Oil) dropped to 47.47 dollars per barrel on the New York Mercantile Exchange.

April futures price for North Sea Brent crude oil mix fell $ 0.71 to 57.07 dollars a barrel on the London Stock Exchange ICE Futures Europe.

Gold prices declined markedly, while returning to a session low, which was triggered by rising US stock indices and recovery of the dollar index.

Yesterday the precious metal fell to the lowest since December 1, and recorded its eighth-session decline in a row, which is the longest series since March 2009. This was largely due to the increase in the dollar to a 12-year high against the euro, the ECB launched a program QE, but US data increased the likelihood of an earlier rate hike. "It's very hard after unemployment data go to the" bull "market relative to gold," - said a trader in Hong Kong. According to him, now investors send funds to other tools that can bring more profits.

The course of today's trading is also affected US data. It is learned that retail sales in the US fell the third consecutive month in February, which was partly due to the bad weather in various parts of the country. But it is also a sign of continuing caution among American households, despite the improvement in the labor market and lower gasoline prices. Sales in retail stores and restaurants decreased by 0.6% last month and amounted to a seasonally adjusted $ 437 billion., Said the Ministry of Commerce. Retail sales fell 0.8% in January and 0.9% in December. Falling gasoline prices contributed to the decline in retail sales in recent months. But little growth has raised total sales in February. Except for purchases at gas stations, retail sales fell by 0.8% last month. At the same time, the automotive sector was the biggest driver of growth in overall retail sales last month. Except of motor vehicles, sales fell slightly more than 0.1% in February after falling 1.1% in January. Except for gasoline and car sales fell 0.2% last month. Economists had expected overall sales will grow by 0.5% in February.

Meanwhile, the Labor Department said that initial jobless claims fell by 36,000 to a seasonally adjusted 289,000 in the week ended March 7 on Thursday. Economists had expected 317,000 new claims. The level of the previous week was revised up to 325 000 hits, while initially reported 320 000. Applications in the week to February 28 were the highest since May 2014. Moving average of four weeks for applications that aligns weekly volatility, fell by 3,750 to 302,250 last week. The report showed that the number of people continuing to receive unemployment benefits fell by 5,000 to 2.42 million in the week ended February 28th.

According to the calculations Reuters technical analyst Wang Tao, as gold prices have been the level of support $ 1156, they can return to its lowest level in November 2014 $ 1,131.85.

April futures price of gold on the COMEX today fell to 1150.30 dollars per ounce.

Oil further recovered today with Brent Crude adding +1.15%, currently trading at USD58.20 a barrel - rebounding from new one-month lows set yesterday. West Texas Intermediate added +0.58% currently quoted at USD48.45. Brent Crude and WTI were supported as the dollar-rally lost some momentum.

Yesterday the US Department of Energy reported that in the week from 28 February to 6 March crude oil reserves rose by 4.5 million barrels to 448.9 million barrels, while experts had expected a rise by 4.8 million barrels. Commercial oil reserves in the US, according to figures remain at historical highs over the past 80 years.

Oil prices declined by almost 60% between June 2014 and January 2015 and recovered by almost 35% in 2015.Although prices rebounded after setting new lows, worldwide supply still exceeds demand in a period of low global economic growth, pushing stockpiles to record highs, weighing on prices.

A stronger U.S. dollar and the prospect for higher U.S. rates recently weighed on the precious metal as the precious metal is dollar-denominated and not yield-bearing. The Fed could start raising rates in the middle of this year (probably in June), and investors are preparing for the Fed next week to to get further indications on whether the bank will give up its "patient" approach regarding the timing of a rate hike.

Continuing uncertainty over Greece had limited impact on the price of gold. Yesterday German Finance Minister Wolfgang Schäuble said that Greek officials must stop wasting time and work on the planned reforms.

Gold is currently quoted at USD1,160.60, +0,57% a troy ounce. On Thursday the 22nd of January gold reached a five-month high at USD1,307.40. Yesterday bullion traded as low as USD1,147.30.

(raw materials / closing price /% change)

Oil 48.17 -0.25%

Gold 1,154.70 +0.36%