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Analytics, News, and Forecasts for CFD Markets: raw news — 18-10-2012.
Oil fell for the first time in three days as more Americans than forecast filed applications for unemployment benefits last week.
Prices dropped as much as 1.6 percent after the Labor Department reported jobless claims increased to 388,000 in the week ended Oct. 13, more than the 365,000 forecast by economists. Oil inventories rose last week to the highest level for this time of year since at least 1982 as production gained, the Energy Department said yesterday.
Crude for November delivery fell to $90.66 a barrel on the New York Mercantile Exchange. Futures are down 7.2 percent this year.
Brent oil for December settlement declined 70 cents, or 0.6 percent, to $112.52 a barrel on the London-based ICE Futures Europe exchange.
Gold futures declined for the first time in three days as Chinese data signaled improving economic growth, easing pressure on the government to announce measures to boost expansion.
China’s industrial production, retail sales and fixed-asset investment accelerated in September after a seven-quarter slowdown. European Union leaders are meeting in Brussels for two days starting today. Gold surged 11 percent in the last quarter after the U.S., Japan and the European Central Bank enacted measures to stimulate growth, increasing demand for the precious metal as an inflation hedge.
China’s gross domestic product expanded 7.4 percent in the third quarter from a year earlier, matching economists’ estimates. The country’s economic growth has started to stabilize, the official Xinhua News Agency reported yesterday, citing Premier Wen Jiabao.
Gold futures for November delivery slid to $1,743.00 an ounce on the Comex in New York.
Change % Change Last
Gold 1,750 +4 +0.21%
Oil 91.99 -0.10 -0.11%
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