Gold more expensive in the seventh successive days

Gold rose for the seventh consecutive day during yesterday’s trading, thus reported their longest period of growth for the past three years. Reason for this speculation rose that the U.S. government plans to devalue the dollar and has increased the demand for bullion as an alternative investitsiya.Fyucharsite with delivery in December rose by 1.1 dollars or 0.1 percent, to 1102.50 dollars an ounce. Since the beginning of the year cent of the Gold has added 25 percent decrease compared to the dollar by 7.7%. Oil prices fell yesterday as Hurricane Ida „died down and evacuated workers returned to offshore platforms in the Gulf of Mexico. Appreciation of the dollar in currency markets has also had a negative impact on the prices of black gold. Organization of Exporting Countries (OPEC) said in a report that oil production will increase by 1.1 percent to 50.18 million barrels a day next year. American Petroleum Institute reported yesterday that inventories of crude oil in the U.S. grew by 1.22 million barrels to 337.5 million last week. This was also a factor for the decline in black gold. U.S. light crude for December delivery slipped by 38 cents to 79.05 dollars per barrel. Petrol – Technical Analysis First resistance to growth of the black gold is 90.22 – 50% adjustment decreased from 147.23 to 33.21. Followed by 103.67 and 122.83 – 61.8% and 78.6% correction of the same movement. First support for oil is the minimum of 20.09.2009, at 64.67, should 58.21 – the lowest value of 47.00 and 11.07.2009 from 18.04.2009 bottom.

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