High prices of oil and gold on world markets

Oil prices climbed nearly 2% Tuesday to reach their highest level in two weeks, with the US Federal Reserve lowering interest rates this week for the first time in more than a decade, boosting expectations demand from the world's largest consumer of oil.

US crude inventories are also expected to fall for the seventh straight week.

Brent for September delivery rose $ 1.01, or 1.6%, to $ 64.72 a barrel, while West Texas Intermediate crude increased $ 1.18, or 2.1%, to close at 58.05 dollars.

The crude has reached its highest closing level since July 15 for a fourth consecutive session.

But at the month level, crude is expected to decline further due to lingering concerns over oil demand, Brent dropping more than 2% and US crude less than 1%.

"Crude oil has risen today, in part because of another significant drop in stocks this week as well as persistent tensions in the Strait of Ormuz," said Brian Kissins, manager of portfolio at Turtweiss Energy Management. "He said.

The gold futures on Tuesday were up slightly ahead of the meeting of the Federal Open Market Committee on Monetary Policy at the US Federal Reserve on Wednesday.

The dollar index rose to 98.21 points during the trading session, after falling slightly early in the trading session to 98.05 points.

On Tuesday, the price of gold rose $ 9.30, or 0.7%, to reach $ 1,429.70 an ounce in August. At the same time, the price of gold rose by $ 8.50, or 0.6%, to reach $ 1441.80 per ounce next December.

The price of gold climbed Monday from 1.10 dollar to 1420.40 dollars an ounce.

Silver rose $ 0.118 to $ 16,558 an ounce in September, while copper fell $ 0.090 to $ 68,775 a pound for the September delivery.

US financial markets are waiting at the announcement of the US Federal Reserve Wednesday to reduce the US interest rate manager by 25 basis points over the two-day meeting.

On the economic front, US consumer confidence reached its highest level in eight months in July, while Americans were optimistic about the economy and employment, unemployment and US interest rates.

The consumer confidence index reached 135.7 points this month, compared with 124.3 points in June, according to revised estimates, according to the Conference Board of Economic Studies in New York.