Reports released today showed that the Netherlands' central bank, De Nederlandsche Bank (DNB), raised its holdings by 9.61 tonnes to 622.08 tonnes in December, based on International Monetary Fund (IMF) figures. That was the first rise since December 1998. The Dutch central bank's holdings have been unchanged since 2008.

De Nederlandsche Bank denied this information later. The central bank said on its official website that its gold stock remained unchanged at 19.691 million fine troy ounces.

The DNB added that the same information has been reported to the IMF.

Prices for Brent crude rose moderately, entrenched near the mark of $ 49, as a weaker dollar offset the impact of the global oversupply. As for oil brand WTI, then its value has risen above $ 45.

"The market is looking for the right impetus to push oil prices up," - said Hans van Cleef, senior energy economist at ABN AMRO Bank in the Netherlands. However, he noted that today's growing price does not necessarily mean that the recession has already been completed. "We continue to be below the closing levels compared to last week," - said the expert.

The course of today's trading was also influenced mixed US data. The US Commerce Department announced that the total volume of orders for durable goods fell last month by 3.4% compared to expectations for a gain of 0.5%. Meanwhile, another report showed that sales of new homes rose by 11.6 percent to an annual rate of 481,000 in December from a revised figure of November 431 000. Economists had expected new home sales will rise to a level of 450,000 compared to 438,000 , which was originally reported in the previous month. The number of unsold homes corresponds to 5.5 months of sales.

It also became known that the index of consumer confidence from the Conference Board, which increased in December, rose sharply in January. The index is currently 102.9 (1985 = 100) compared to 93.1 in December. Assess the current situation index rose to 112.6 from 99.9, while the expectations index rose to 96.4 from 88.5 in December.

In addition, higher prices helped expectations publication of data on oil and petroleum products in the United States to measure the volume of demand from the world's largest oil consumer. Experts note that the government report to be released tomorrow may show the growth of oil reserves by 3.8 million barrels for the week ended January 23.

March futures price for US light crude oil WTI (Light Sweet Crude Oil) rose to 45.60 dollars per barrel on the New York Mercantile Exchange.

March futures price for North Sea petroleum mix of Brent increased by $ 0.71 to $ 48.84 a barrel on the London Stock Exchange ICE Futures Europe.

Gold prices rose markedly, approaching the mark of $ 1,300 per ounce, which is due to the depreciation of the US dollar in anticipation of meeting the US Federal Reserve. Most analysts suggest that the Fed recognizes the uncertain future of the global economy and again promise to show restraint in tightening policy. However, analysts still expect the regulator to raise interest rates in the middle of the year.

Higher prices for precious metals also helps the weak US statistics. Ministry of Commerce announced that orders for durable goods fell last month by 3.4% compared to expectations of 0.5%. The volume of orders for durable goods excluding transportation equipment fell by 0.8% in December against the forecast of + 0.5%. Meanwhile, the volume of new orders for non-defense capital goods in the industry excluding aircrafts fell by 0.6% last month. The volume of deliveries in non-defense capital goods industry excluding aircrafts decreased by 0.2%.

Also, market participants assess the current data from the IMF, to show that Russia in December increased its volume of gold bullion at 20.73 tons to 1,208,23 tons. RF inferior in terms of gold reserves USA, Germany, Italy and France. Russian gold buying volumes in December were the largest since September, when it bought 37 tonnes. It is worth emphasizing, purchase and sale of gold by central banks may have a significant impact on the price of gold. Central banks after two decades of stay in the number of sellers of gold moved in 2010 to the category of its customers amid growing interest in the metal after the global economic crisis of 2008.

Meanwhile, it became known that the stocks of the world's largest gold ETF-secured fund SPDR Gold Trust rose on the results Monday at 0.24 percent, while reaching the level of 743.44 tons.

As for the situation in the physical market, there is a decline in demand: margins in Singapore fell to $ 0,70-1,00 per ounce from $ 1.20 in early January, and margins in Hong Kong - up to 50-70 cents from $ 1 two weeks ago .

The cost of the February gold futures on the COMEX today rose to 1293.40 dollars per ounce.

Brent crude and West Texas Intermediate are trading higher today.Brent Crude added +0.54%, currently trading at USD48.42 a barrel, still below the important USD50 level. On January 13^th Crude hit a low at USD45.19. West Texas Intermediate rose by +0.40% currently quoted at USD45.33.

Yesterday, Gary Cohn, president of Goldman Sachs and a former oil trader said prices could reach a level of USD30.

Prices were under pressure recently as Saudi Arabia's new King Slaman assured a smooth transition and reaffirmed that there will be no change in Saudi Arabia's policy towards cuts in production. Ali al-Naimi will stay oli minister. The OPEC warned that low oil price may lead to a decline in investment and oil prices could spike in long term due to reduced output.

Oil prices fell by nearly 60 percent over the past six months, and both key brands of oil are currently trading below $ 50 a barrel as the worldwide supply exceeds demand in a period of low global economic growth and the OPEC refusing to cut output rates to stabilize prices. Smaller OPEC members want to cut production but the organisation, responsible for 40% of worldwide production focuses on its fight for market share.

Gold is trading almost flat today. Earlier in the session the precious metal further declined for a third day hitting a one-week low at USD1,272.00. Markets await the FED's two-day policy meeting. The European Union agreed to work with the new Greek government to keep the country in the Eurozone after the anti-austerity party Syriza scored a win, making gold less attractive as safe haven asset.

Gold prices rose nearly 9 percent this year, after declining for two consecutive years, ending 2014 almost flat. Speculations that the FED will hold back its benchmark interest-rate hike till the end of the year further helped gold but the forecast for the current year remains uncertain.

The precious metal is currently quoted at USD1,280.60, -0,02% a troy ounce. On Thursday last week gold reached a five-month high at USD1,307.40.

BLOOMBERG

EU Hunts Formula to Keep Greece in Euro After Tsipras Win

European finance ministers started work on reviving Greece's troubled rescue program as new Prime Minister Alexis Tsipras took office promising to end austerity.

Finance chiefs from the 19-nation euro area signaled their willingness to do a deal with Tsipras -- so long as the new Greek prime minister drops his demand for a debt writedown. At a meeting in Brussels on Monday, ministers agreed quickly to work with the new government to help keep Greece in the euro, Dutch Finance Minister Jeroen Dijsselbloem said.

"We stand ready to support them in that ambition," said Dijsselbloem, who led the meeting.

Source: http://www.bloomberg.com/news/2015-01-26/tsipras-forges-anti-austerity-coalition-in-eu-challenge.html

REUTERS

Oil gives up early gains on firm dollar, shrugs off OPEC comments

(Reuters) - Oil gave up early gains with Brent futures slipping below $48 on Tuesday as a stronger dollar weighed, offsetting comments from producer group OPEC that prices may have found a floor.

The Secretary-General of the Organization of the Petroleum Exporting Countries, Abdullah al-Badri, said oil prices may have bottomed out and warned of a risk of a future jump to $200 a barrel if investment in new supplies was too low.

"Crude oil markets continue to consolidate near term," ANZ analysts said, adding that Brent traded in the range of $48-$50 last week and showed little direction.

Source: http://www.reuters.com/article/2015/01/27/us-markets-oil-idUSKBN0L003R20150127

BLOOMBERG

Yuan Gains as Steepest Two-Day Drop Since 2008 Seen Excessive

China's yuan rose by the most in four weeks as the central bank strengthened the reference rate after the currency's biggest two-day slide since 2008.

The People's Bank of China raised the daily fixing 0.03 percent to 6.1364 a dollar after weakening it by 0.22 percent over the previous two days. The onshore yuan fell to near the lower limits of its trading band on Monday and the greenback's 14-day relative-strength index touched 69.8, near the 70 level that indicates to some traders the U.S. currency will weaken. Industrial profits fell 8 percent in December, the most in data going back to late 2011, an official report showed Tuesday.

"Yuan moves today look like a technical rebound after significant declines in past sessions," said Banny Lam, co-head of research at Agricultural Bank of China International Securities Co. in Hong Kong. "With a backdrop of weakening fundamentals in China and broad-based dollar strength, it's hard to see much room for yuan appreciation for now."

Source: http://www.bloomberg.com/news/2015-01-27/yuan-gains-as-steepest-two-day-drop-since-2008-seen-excessive.html

(raw materials / closing price /% change)

Light Crude 45.08 -0.16%

Gold 1,281.30 +0.15%