Gold fell slightly today, updating the two-week minimum but then retraced. The decline was due to the weakening concerns about Britain's exit from the EU.

Precious metal, which is seen as a hedge against economic and financial uncertainty, reached nearly two-year high on June 16 as the markets reacted to the growing concern about the prospect of Brexit.

"The fears that were present in the middle of last week seem to diminish, and gold is getting cheaper," - said Julius Baer, ​​Carsten Menke.

Meanwhile, many analysts have pointed out that despite the outcome of the referendum gold prospects remain positive, mainly due to lower expectations about the Fed rate hike, as well as due to the slowdown of the world economy.

The assets of the world's largest gold exchange-traded fund SPDR Gold Trust rose on Thursday by 0.4 percent to 915.90 tons.

The cost of the August gold futures on the COMEX fell to $ 1266.3 per ounce.

Lukoil expects the average price of oil at $ 50 a barrel in 2016, but does not exclude the worst-case scenario, company president Vagit Alekperov said at a meeting with shareholders.

"In 2015, we had to work in a two-fold drop in oil prices, we have developed scenarios of 40 and 30 dollars, they do not lose its relevance, although we expect that the average price will be $ 50 in 2016 per barrel, but we do not exclude the worst-case scenario, "- he said.

Alekperov said that "Lukoil" managed to triple the free cash flow in the last year - up to 248 billion rubles and in terms of net profit per employee the company occupies a leading position in Russia - 2.7 million rubles. Alekperov said that after the difficult conditions of the Tax Code has adopted a number of measures to improve operational and financial efficiency, optimizing general and administrative expenses. In particular, in some regions, Lukoil, was able to negotiate with contractors to reduce the cost of their services by 30-40%.

Alekperov also said that the company's debt load is relatively low. "We have managed to ensure stable funding for all expenses, including repayment of loans and payment of dividends," - he said.

(raw materials / closing price /% change)

Oil 49.00 -0.26%

Gold 1,268.90 -0.09%