Gold            $1,274.8    +4.50 +0.35%

NYMEX Crude Oil    $100.00    +0.22 +0.22%

Prices for Brent crude fell slightly , but will continue to be near five-week high above $ 109 a barrel as investors await comments regarding future policy the U.S. Federal Reserve . The new head of the Federal Reserve System, Janet Yellen first appearance before Congress this week, and markets expect to hear that monetary policy will remain accommodative . Economists suggest that Yellen continue gradual narrowing of asset purchases , but on condition that the economy will improve.

This view was reinforced by disappointing data on employment in the United States, which showed that job growth was the weakest in three years and suggested that U.S. economic growth is losing momentum .

" Oil is rising on expectations that the restriction of asset purchases will not be accelerated ," said Eugene Weinberg , head of commodities research Commerzbank. But Weinberg said that oil prices could get close to the top of its range for some time , namely, up to $ 100 per barrel (WTI), and up to $ 110 per barrel (Brent).

I also add that the price of Brent crude oil have been under some pressure from the news that production on the UK Buzzard oilfield returned to normal - 200 thousand barrels per day or more, after his fourth trip in 2014 last week.

Chinese economic data , which will be released this week, may also be favorable for oil if it will point to a more rapid growth in the world 's second largest oil consumer . Some analysts who follow oil prices , saying that the upward momentum in the market can be sustained .

Experts also note that the weakening of political tensions around Iran's nuclear program may affect the price of oil , as production from OPEC may increase if Tehran will reach a final agreement with the world powers .

March futures price for U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $ 100.27 per barrel on the New York Mercantile Exchange (NYMEX).

March futures price for North Sea Brent crude oil mixture fell 44 cents to $ 109.10 a barrel on the London exchange ICE Futures Europe.

Gold prices rose significantly today , as weak employment data in the U.S., which were presented at the end of last week , raised the question about the economic recovery , and a slowdown in stimulus from the Federal Reserve .

Add that after this report , the attention of many market participants begin to switch to tomorrow's presentation of a new chapter of the Federal Reserve Janet Yellen , from which experts expect to hear that the policy will remain the same for a long time .

" Gold is approaching the level of $ 1280 per ounce , and receives some support from a weaker dollar , but market participants cautious as he expected statements Yellen ," said analyst Robin Bhar Societe Generale . "Some of the " soft " economic reports on the U.S. may mean that the Fed will pause attenuation at the March meeting , but everything depends on the data flow between now and then ." Recall that the next meeting of the Federal Committee on open market operations the Fed is scheduled for March 18-19 .

Today, spot gold prices rose by 0.6 percent , after rising 1.9 percent the previous week , recording its biggest weekly gain since Jan. 3 .

It is also worth noting that one of the reports submitted showed that consumer demand in China, which is the world's largest consumer of gold , reached 1,000 tons in 2013. Nevertheless , it is expected that demand will fall slightly this year from 2013 reached record levels. We also add that gold production in China in 2013 also reached a record level - 428.16 tons, making the country the biggest earner in the world for the seventh consecutive year.

The cost of the April gold futures on the COMEX today rose to $ 1274.30 per ounce for ounce.