Crude prices are likely to hold above $80 a barrel in the near term if Wednesday’s inventory data shows continued improvements in U.S. energy demand, said analysts at Credit Suisse in a note to clients.

Gold turned lower on Thursday, pulling back after having touched a high at $1140.80, as the euro may face further selling pressure as the European Central Bank’s kept the interest rates steady at 1% record low.

Crude oil is trading around $80 a barrel after rising anticipations that Greece’s budget problems will be solved out and as an industry report showed a decline in distillate supplies in the U.S.

Oil prices rose to a six-week high above $80.75 a barrel on Monday, extending the previous session’s gains, as speculation over a quick bailout for debt-laden Greece helped pushed the U.S. dollar lower.

Fulfilling the old theory of a positive relation between the prices of gold and Euro; gold futures rallied on Tuesday’s electronic trading, boosted by the euro’s rise against the U.S. dollar, as investors awaited details on possible help for Greece from the European Union.

Crude oil futures finished on a 1% gain today - Monday, helped by soothed nerves about the debt situation of several European countries, even as concerns about weak demand persisted.

Despite investors thinking that Gold prices would be steady on Wednesday on a though that they hit their highest levels in almost two weeks the previous day, Gold surprisingly broke higher levels to reach $1123.5 At 8:30 a.m. GMT – and it seems from the trend that there are more higher ways to go.

Crude oil futures finished 2% higher on Monday, after dropping last week and for the month of January, as upbeat global manufacturing reports and cold temperatures in the U.S. lifted demand prospects. Also, upbeat manufacturing surveys from China, Europe and the U.S. gave a lift to commodities.

Gold rose on Monday, boosted by a report of strong Chinese imports data and after a Federal Reserve official stated that there would be no recent interest rate hikes. While Crude-oil futures lost their early gains as traders keyed on forecasts for warmer temperatures.

After the historical highs that the whole market has witnessed on Gold, any investor would name Gold as the most important trading event from early October to early December; it was neither the US Dollar nor the Great British Pound. It was Gold which rose by over 20% in dollar-terms.