Oil fell after manufacturing in the U.S. unexpectedly shrank for the first time in almost three years in June.

Prices tumbled as much as 3.4 percent as the Institute for Supply Management’s U.S. factory index fell to 49.7 in June from 53.5 a month earlier. Euro-area unemployment reached the highest level on record in May, the European Union’s statistics office said today. Oil’s decline followed a 9.4 percent jump June 29.

The jobless rate in the 17-nation euro area rose to 11.1 percent in May from 11 percent in April, the EU’s statistics office in Luxembourg said today. That’s the highest level since the data series started in 1995.

Unemployment climbed to 17.561 million people in May, an increase of 88,000 from the previous month, the report showed. Spain’s unemployment rate, the steepest in the EU, increased to 24.6 percent from 24.3 percent a month earlier.

Crude for August delivery dropped to $82.10 a barrel on the New York Mercantile Exchange. The percentage gain was the biggest since March 12, 2009. Oil is down 17 percent this year.

Brent oil for August settlement on the London-based ICE Futures Europe exchange fell $1.99, or 2 percent, to $95.81 a barrel.

The price of gold is reduced to the background of unfavorable macroeconomic data. Disappointing investors brought the report of the Institute for Supply Management index of business activity in U.S. industry (ISM index) in June 2012 decreased to 49.7 index points compared with the value for May 2012 to 53.5 points. An index value below 50 points indicates a decline in industrial production. The organization noted that the index fell below this level the first time since July 2009 Meanwhile, analysts predicted that the index will be 52.0 points.

Earlier, the markets reacted negatively to the weak data on unemployment in the 17 eurozone countries. Unemployment in the euro area in May of this year jumped to a record level in the history of collecting data in 1995 - 11.1%, which increases the likelihood of reducing the base interest rate by European Central Bank (ECB) this week.

The next meeting of the ECB will be held on July 5 and, according to analysts, the European Central Bank will reduce the rate by 0.25 percentage points - to a record low of 0.75% per annum.

August gold futures on the COMEX today fell to 1587.4 dollars per ounce.

Resistance 3: 1660 (MA (200) for D1)
Resistance of 2:1640 (high of June, MA (100) for D1)
Resistance of 1:1607 (Jun 29 high)
Current Price: 1597.00
Support 1:1584 (38,2% FIBO of Friday’s growth)
Support 2:1577 (50,0% FIBO of Friday’s growth)
Support 3: 1570 (61,8% FIBO of Friday's growth) 

Resistance 3: 86.80 (high of June)

Resistance 2:85,10 (Jun 29 high)

Resistance 1:84,20 (intraday high)

Current Price: 83.02

Support 1:82,00 (38,2% FIBO Friday's growth)

Support 2:81,00 (50,0% FIBO Friday's growth)

Support 3:80,0 (61,8% FIBO Friday's growth, MA (200) for H1)