Oil slips, halting two-day growth, gold retreats to two-week low

Crude oil futures fell significantly on Wednesday, despite a continued drop in US crude inventories. The US Energy Information Administration reported a 4.9 million barrels' decline in US oil inventories last week. Meanwhile, gold futures sank to the lowest level in over two weeks due a relatively flat US Dollar and revised forecasts of the GDP growth in Q1, while upgrading it from -0.7% to -0.2%.