(raw materials / closing price /% change)

Light Crude 77.83 -0.10%

Gold 1,141.30 -0.11%

Oil futures fell moderately, thus offsetting part of yesterday's promotion, which was associated with the expectations of the recovery of the largest producers of raw materials in Libya. On the eve of the work on al-Sharar were suspended because of an armed attack, and as a result of oil production in the country dropped by a third. According to Saxo Bank analyst Ole Hansen, the situation with the suspension of oil production indicates the chaos in which dwells Libya, and on how much may be unstable energy supply of the country. Earlier, Minister of Foreign Affairs of Venezuela, Rafael Ramirez after a meeting with the Minister of the oil industry in Saudi Arabia, Ali al-Nuaimi said that the collapse of oil prices causes widespread concern.

In addition, the prices pressured revised forecasts for oil demand from OPEC. In the short and medium term decline in oil production in the Organization of Petroleum Exporting Countries (OPEC) is likely to surpass the earlier forecasts. This assumption suggests that at some point the cartel can lower the upper limit of total production. According to the annual report on the global oil market, the end of 2017, oil production in the OPEC fell by 1.8 million barrels a day to 28.2 million barrels a day. In the current year, the average volume of production in the cartel is expected to reach 30 million barrels a day, which also corresponds to the current overall limit. The same last year forecast assumes a reduction in OPEC production by 1.1 million barrels per day by the end of 2017. Regular meeting of OPEC oil supplies which meet about a third of world demand, held on November 27. Although the results of the meeting of reducing the limit is not expected to released new projections indicate the prospect of lower production. Expectations regarding the OPEC cartel's production decline combined with short-term forecasts of growth in oil production from low-permeability rocks, which are sometimes also called shale oil.

The course of trading and continues to influence the last report on oil stocks in the US. According to the US Department of Energy, oil stocks in Cushing declined last week to 551 thousand. Barrels, with a decrease was observed for the first time in four weeks. This prompted a number of analysts to declare a "turning point."

"This is a turning point for the oil reserves in the US - they will begin to decline, with increased volumes of oil refining, due to the need to meet the growing anticipation of winter fuel demand - said raw analyst Woori Investment & Securities Co. Seoul Kang Yu Ying. - The price of oil is likely to rise in the next three months, as the low prices are unfavorable for producers of shale gas. "

The cost of December futures on US light crude oil WTI (Light Sweet Crude Oil) fell to $ 77.48 a barrel on the New York Mercantile Exchange (NYMEX).

December futures price for North Sea petroleum mix of mark Brent fell $ 0.75 to $ 82.42 a barrel on the London exchange ICE Futures Europe.

Gold prices rose slightly today, as yesterday's drop to four-year low led some buyers back into the market. Nevertheless, most investors prefer to stay out of the market in anticipation of tomorrow's release of US data on the number of people employed in non-agricultural sector. Analysts expect that in October, the US economy added 229,000 jobs, compared with 248,000 in September.

Positive employment report is likely to intensify speculation regarding possible terms of interest rate increases by the Federal Reserve, while the weak data could increase the demand for gold, undermining the foundation for fast growth rate.

Negligible impact on the bidding had today's decision of the ECB to leave rates. Commenting on the move, the head of the Bank, Mario Draghi said that high unemployment continues to hamper economic recovery of the region, and geopolitical tensions could negatively affect the situation with investing. In this regard, the Governing Council will closely monitor developments and if necessary act. If the prospects for price stability or inflation expectations deteriorate, the Bank may launch new measures. Representatives of the Council already developing possible steps to such a case.

Also important was the fact that the head of the ECB repeatedly noted that solutions voiced today, were adopted unanimously, has dispelled rumors that many politicians oppose it, as previously reported in the article Reuters.

Analysts also note the weak demand for gold in China, where demand for gold jewelry, bars and coins usually increases with a decrease in prices, but this time it did not. On the Shanghai Gold Exchange precious metals on Thursday traded at world standard or slightly cheaper. "One explanation for the lack of demand in the physical market may be that investors are waiting for further price reductions or price stability", - said analyst Robin Bhar Societe General, referring also to the depreciation of several national currencies.

Meanwhile, today the Dutch bank ABN Amro warns its clients from attempting to buy heavily depreciating gold, according to analysts, the decline in quotations of precious metals continues, and by the end of next year they will reach $ 800 per ounce.

The cost of December gold futures on the COMEX today rose to 1145.60 dollars per ounce.

Gold was able to recover a little from its four-year low from yesterday as the U.S. dollar further retreated from a five-year high and was judged oversold by investors that are betting on a rebound after yesterday's lowest price since April 2010 trading at USD1,137.50. The weaker U.S. dollar further helped gold's recovery. Investors still awaiting the outcome of today's ECB meeting and what steps will be taken in order to spur growth and inflation in the euro zone.

GOLD recovered from 4-year low currently trading at USD1,143.70

REUTERS

Dollar steadies near seven-year high vs yen; eyes on ECB

The dollar steadied after hitting a seven-year high against the yen on Thursday as traders sold into a steep rally ahead of a European Central Bank meeting later in the session and U.S. nonfarm payrolls data on Friday.

Source: http://www.reuters.com/article/2014/11/06/us-markets-forex-idUSKBN0IQ0B620141106

BLOOMBERG

BOJ Runs Into Critical Analysts After Kuroda Easing Shock

While Kuroda said he didn't intend to surprise anyone with the decision to bolster already-unprecedented easing, springing the news on the market added to the punch. The risk for Kuroda is that he may undermine the BOJ's credibility with some people in the market who count on central bank officials for clear and timely communication.

Source: http://www.bloomberg.com/news/2014-11-06/boj-runs-into-critical-analysts-after-kuroda-easing-shock.html

REUTERS

PRECIOUS-Gold ticks up as dollar eases, but still near 4-1/2 year low

Gold edged up slightly on Thursday as the dollar took a breather after a sharp rally, but the safe-haven metal continued to languish near its lowest level since April 2010 with fears mounting that $1,000 an ounce is the next target.

Source: http://www.reuters.com/article/2014/11/06/markets-precious-idUSL4N0SW1N620141106