Crude Oil price was slightly higher yesterday after recovery concerns sent the price lower by more than 8% during last week trading session. It is expected to remain flat today or little change, due to low volume of economic news released. However, price might decline further in the short term even toward $65 if economic figures continue to deteriorate. Investors are worried about a possible double dip, or a renewed recession. Crude Oil is trading at 72.15, during early trading hours.
Gold prices have dropped significantly during early trading hours today, after reaching record high levels last week. Gold is considered a safe haven when expectations are for high inflation. Recent data indicating a possible deflation is sending investors away from holding Gold. Gold price decline trend is expected to continue if more U.S. figures indicate global recovery is slowing. Gold price is trading at 1189.15 during early trading hours.