The price of oil rose today, rising above $ 103 a barrel, which was due to shaky growth prospects among the largest consumers of oil in the world (U.S., Europe and China). Note that last week the oil recovered from nine-month lows expectations that a stronger global economic activity will increase the cost of fuel, which lured some investors back into the market. However, disappointing data limited the recovery. The U.S. Commerce Department reported Friday that the world's largest economy grew at an annualized rate of 2.5 percent in the first quarter, below expectations of 3 percent.

Meanwhile, the data that were presented today by the European Commission showed that economic confidence in the euro zone fell in April, while continuing to decline, which was celebrated last month. Note that the index of sentiment in the economy fell by 1.5 percentage points to 88.6, which was worse than economists forecast (89.4). In terms of performance the maximum decline occurred in Germany and France. Improvement was observed in Spain and the Netherlands. The pressure on the mood in the industry has a negative assessment of the prospects for production. Weakening exports and weak orders are also reflected.

We add that this week, traders will focus on the Chinese data, which may indicate that the PMI manufacturing index fell slightly in April, but remained above the 50 level that indicates expansion.

Also in focus will be the European Central Bank, which is likely to cut interest rates. However, experts believe that the move has done little to pull the eurozone out of recession.

The cost of the June futures on U.S. light crude oil WTI (Light Sweet Crude Oil) rose to 94.04 dollars per barrel, the lowest intraday level since Dec. 19.

June futures price for North Sea Brent crude oil mixture rose $ 0.78 to $ 103.52 a barrel on the London exchange ICE Futures Europe.

Gold prices rose slightly today, helped by the weakening of the dollar on prospects for further easing of monetary policy in the United States and Europe. In addition, it was reported that the amount of physical buying in China and Japan has decreased due to the holidays. Economists say that the slow growth in the United States have raised expectations that the Fed will maintain its volume of bond purchases at $ 85 billion per month. At the time, many predicted that the European Central Bank will announce an interest rate cut on Thursday. Note that the adaptive policies support the price of gold as money printing promotes the growth of inflation.

Add that to the dynamics of trading almost no impact on the U.S. data, which showed that consumer spending in the U.S. rose slightly in March, while continuing to increase, which was observed in the previous month, indicating at the same time about a steady, albeit slow economic growth. According to the report, personal expenses, which measure the amount of purchases, from cars and clothing to health care and heating, rose last month by 0.2%, which was followed, after rising 0.7% in February. Economists note that the slowdown in spending have fueled drop in gasoline prices. Meanwhile, it was reported that incomes rose by only 0.2%, possibly reflecting weak job growth.

Add that to the largest reserves of gold exchange-traded fund SPDR Gold Trust declined on Friday to 7.2 tons, resulting in a general decline in the month amounted to 138.2 tons.

The cost of the June gold futures on COMEX today rose to 1472.40 dollars an ounce.