Today the price of oil fell for the first time in six days, which was due to fears that U.S. lawmakers will not prevent a financial crisis after Republican leaders canceled a planned vote on higher taxes for the "superior" workers.

Prices have fallen by as much as 2.3% after House Speaker John Boehner rejected the plan, while allowing to consider a higher tax rate for annual incomes over $ 1 million

Analysts noted that oil was growing all week on hopes that the U.S. intends to solve this problem, but now it seems that there is no quick fix. Meanwhile, time is running out, and fears in the market are growing more and more.

Note that members of the House of Representatives and the Senate decided to continue voting after Christmas. Note that to solve the problem they will have less than a week. Meanwhile, to reach an agreement, Boehner should receive sufficient support from the Republicans, and to maintain control over his party, relying on the votes of Democrats who need to take any action.

Recall that the Congressional Budget Office has stated that it is not possible to solve the issue is likely to lead the U.S. economy, which is the largest oil consumer in the world, to the recession in the first half of 2013.

February futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) fell to 88.33 dollars a barrel on the New York Mercantile Exchange.

February futures price for North Sea petroleum mix of mark Brent fell $ 1.49 to $ 108.71 a barrel on the London Stock Exchange ICE Futures Europe.

Today the gold price declined again, reaching minimum values ​​at the same time the previous day, which at the same time be a four-month low, showing with the largest weekly decline for the week of June this year. It is learned that this pattern was associated with the rise of the U.S. dollar, as well as "tipikom" in the negotiations related to the "fiscal cliff." Recall that yesterday's sharp drop was due to the fact that the Speaker of the House John Boehner was not able to join their Republican lawmakers in an attempt to extract concessions from President Barack Obama's budget issues. Note that the new plan is more uncertainty in the negotiations on izbezhenayu tax increases and spending cuts that could push the U.S. economy into recession in 2013. In theory, such a result could raise the appeal of gold as a safe-haven.

However, analysts say this uncertainty, however, discouraged some investors to put their money into gold.

Also today, it was reported that Iraq has made the first major step for the year, which was reflected in an increase in foreign exchange reserves in recent months, joining with the central banks of emerging market economies such as Brazil and Russia to diversify its foreign reserves.

But, despite this decline in early trading, the price of gold eventually grew, restoring more than half the losses incurred yesterday. Note also that prices continue to rise, even in spite of the fact that the dollar is strengthening.

February futures price of gold on the COMEX fell rose to 1656.70 dollars per ounce.

Change % Change Last

Oil $89.98 -0.15 -0.17%

Gold $1,647.80 +1.90 +0.12%