(raw materials / closing price /% change)

Light Crude 78.20 -0.74%

Gold 1,165.30 -0.38%

Oil prices dropped moderately during today's trading, registering with a third-session decline in a row amid speculation that Saudi Arabia will reduce the price of oil in the sale of its Asian countries.

It is learned that this week's state oil company of Saudi Arabia announce official selling prices for crude oil supplies to Asia in December. Results of the survey showed Bloomberg: 7 traders believe that the world's largest oil exporter offer discounts, 6 traders predict immutability prices, and 2 traders expect increasing.

Pressure on prices also had mixed data on manufacturing activity in China, although the news about strengthening manufacturing activity in the euro area constrain the fall. Recall that in October the index of purchasing managers in the manufacturing of HSBC China rose to 50.4 compared with 50.2 in September. The final index remained unchanged from the preliminary. It is worth emphasizing data contradict the official HSBC manufacturing index PMI, which fell to a 5-month low - 50.8 from 51.1 in September. Official data published on Saturday.

Meanwhile, the final value of the manufacturing PMI eurozone, calculated by Markit, was in October of 50.6 points versus 50.3 points in September and preliminary values ​​of 50.7 points. Processing industry in Germany last month, returned to growth after a small reduction of activity in September, but in France, Italy, Greece and Austria, there is a weakening of indicators.

The course of trading continues to influence the Fed's decision. Following the results of a two-day policy meeting, the Fed completed its asset purchase program, referring to the improvement of the situation on the labor market, which also increased the demand for the US dollar. A strong dollar usually puts pressure on raw materials, reducing its appeal as an alternative asset and increasing the dollar price products for holders of other currencies.

Investors also are awaiting the OPEC meeting on November 27 where the decision will be made on further volumes of oil production.

The cost of December futures on US light crude oil WTI (Light Sweet Crude Oil) fell to $ 80.00 a barrel on the New York Mercantile Exchange (NYMEX).

December futures price for North Sea petroleum mix of mark Brent fell $ 0.59 to $ 85.69 a barrel on the London exchange ICE Futures Europe.

Gold prices fell slightly today, approaching with up to four-year low, helped by the rise of the dollar index to its highest level since mid-2010. Such dynamics is related to the speculation that the Federal Reserve will start tightening their monetary policy sooner than other major CB.

It is worth emphasizing that the demand for the precious metal tends to decrease when the economic outlook improves and investors buy riskier assets. Given that the US is moving towards higher interest rates, and the rest of the world, especially Europe and Asia, are moving in the direction of easing, the dollar is likely to continue. This will keep downward pressure on gold.

Market participants also continue to act out Friday's decision by the Bank of Japan. Recall, the Bank of Japan unexpectedly announced an increase in the volume of bond purchases to 80 trillion. yen against the previous target range of 60-70 trillion. yen. The central bank is hoping to revive economic activity and inflation by buying more government bonds in Japan.

Reduced price was also associated with the release of positive US data. A report published by the Institute for Supply Management (ISM), showed that in October, manufacturing activity in the US has improved, exceeding forecasts of economists expect a slight decrease in the index. PMI index for the US manufacturing grew in October to 59.0 against 56.6 in September. A reading above 50 indicates expansion of industrial activity. Note that the latter value was higher than the estimates of experts - expect a slight decrease to 56.5.

The pressure on the precious metal has and reduced demand for gold in China. Experts note that the sluggish demand for gold is particularly unusual for this time of year, when the premium on gold market usually grow: at this time, Chinese traders are stocking gold before the New Year according to the lunar calendar, which will be celebrated in February. The new year of the lunar calendar - the peak of the gold purchases in China. However, the dynamics of prices in Shanghai indicates that even the Chinese buyers are not going to buy gold at discount prices, in the expectation that gold will become cheaper.

"In the face of declining gold prices, consumers and traders are increasingly expecting a possible fall to the psychological level of $ 1,000. But in the second half of 2015 prices are likely to recover, "- said Gnanasekar Tiagaradzhan head Commtrendz Research.

The cost of December gold futures on the COMEX today dropped to 1168.30 dollars per ounce.

(raw materials / closing price /% change)

Light Crude 80.70 +0.20%

Gold 1,173.50 +0.16%