Oil fluctuated as economic reports from the U.S. and China signaled that growth may be slowing and as the euro strengthened against the dollar.

Prices traded near the lowest level in eight months as orders to U.S. factories unexpectedly fell in April and China’s non-manufacturing industries expanded at the slowest pace in more than a year in May.

U.S. factory orders dropped 0.6 percent in April after a revised 2.1 percent decrease in March, the first back-to-back declines in more than three years, figures from the Commerce Department showed today in Washington. Economists projected a 0.2 percent.

China’s purchasing managers’ index for non-manufacturing industries fell to 55.2 in May from 56.1 in April, the National Bureau of Statistics and China Federation of Logistics and Purchasing said yesterday in Beijing. That’s the lowest reading since March 2011, when the federation started seasonally adjusting the data.

Oil for July delivery traded at a range of $81,21 - $83,73 a barrel on the New York Mercantile.

Brent futures for July settlement declined 89 cents, or 0.9 percent, to $97.54 a barrel on the ICE Futures Europe exchange in London.

The official price of gold on the Commodity Exchange in New York COMEX trading Friday on the results of June 1, 2012 increased by 3.7% for the first time since the beginning of May 2012 established above 1600 USD/oz. Troy ounce of gold on COMEX has risen to 57.9 dollars, while the official price of its active futures (August) amounted to 1622.1 dollars / ounce - the highest figure since May 4 this year

Since the beginning of the summer season on the COMEX gold futures rose due to increased investment demand for physical gold, caused by fears of further worsening the debt problems of the eurozone. Assets of ETFs SPDR Gold Trust, which is the world's largest holder of gold among investment institutions, June 1, increased by 3.6 m and amounted to 1 273.9 thousand tons - a maximum of two weeks (after May 21, 2012).

Under the influence of bad data on the status of the U.S. labor market the U.S. dollar fell against the June 1 euro and other currencies, which further ensured the conditions for the purchase of gold bullion. The dollar index for the six major world currencies has dropped by about June 1 to 0.2% and dropped to a minimum of three sessions, set below 83 points.

Today, June gold futures on the COMEX is trading in a range 1609,0-1627,9 USD/oz.