Demand for gold surged to an 11-year high last year. This is due to large-scale purchases on the back of high activity by retail investors and a slowdown of ETF outflows.

Japan was buying aluminum at a surcharge. Shipments from January to March were at $85-86 per ton, which is 13-14% less than in the previous quarter. Resources report weak demand and strong reserves of aluminum.

According to Eikon data, Western tankers increased shipments of Russian Urals crude in January, as its price did not exceed the limit of $60 per barrel.

On January 31, the World Gold Council (WGC) will release data on demand and supply for the fourth quarter of 2022 as well as the whole year. Commerzbank's economists believe that ETF investors’ interest in the precious metal will continue to set the direction of prices.

The IMF increased the forecast for the global economy for the first time in a year due to the constant expenditures of the U.S. and the removal of anti-COVID restrictions in China.

Asia is not losing interest in Russian oil. According to data, this month not less than 5.1 million tons of Urals crude have been shipped from the Russian European ports of Primorsk, Ust-Luga and Novorossiysk to Asian markets.

U.K. oil company BP reported its annual energy outlook with three possible scenarios of events. Each of them forecasts lower oil and gas demand.

The International Energy Agency (IEA) reported that China's oil and gas consumption fell in 2022. This drop is the first seen in several decades.

According to expectations of strategists of the Internationale Nederlanden Groep, gold will grow in 2023.

The U.S. strategic petroleum reserve (SPR) decreased by more than 40% in two years. The reserves were 371.57 million barrels on January 20, compared to 638.08 million barrels a year ago.