Oil prices traded mixed. WTI crude oil declined on concerns over a possible weak oil demand and a slowdown in the Chinese economy. Markit Economics reported yesterday that the Chinese preliminary Markit/Caixin manufacturing Purchasing Managers' Index (PMI) decreased to 47.0 in September from 47.3 in August, missing expectations for a rise to 47.5, and hitting a 78-month low.

The U.S. Commerce Department released durable goods orders data on Thursday. The U.S. durable goods orders decreased 2.0% in August, in line with expectations, after a 1.9% gain in July. July's figure was revised down from a 2.2% rise.

The decline was partly driven by a weak demand for aircraft.

The U.S. durable goods orders excluding transportation was flat in August, missing expectations for a 0.1% gain, after a 0.6% increase in July.

Yesterday's U.S. oil inventories also weighed on WTI crude oil. U.S. crude inventories fell by 1.9 million barrels to 454.0 million in the week to September 18. But gasoline inventories increased by 1.4 million barrels, according to the EIA.

Market participants are awaiting a speech by the Fed Chairwoman Janet Yellen today at 21:00 GMT. They hope to get an explanation on the Fed's decision on last Thursday.

WTI crude oil for November delivery fell to $44.56 a barrel on the New York Mercantile Exchange.

Brent crude oil for October rose to $48.00 a barrel on ICE Futures Europe.

Gold price increased on the mixed U.S. economic data. The U.S. Commerce Department released durable goods orders data on Thursday. The U.S. durable goods orders decreased 2.0% in August, in line with expectations, after a 1.9% gain in July. July's figure was revised down from a 2.2% rise.

The decline was partly driven by a weak demand for aircraft.

The U.S. durable goods orders excluding transportation was flat in August, missing expectations for a 0.1% gain, after a 0.6% increase in July.

The U.S. Labor Department released its jobless claims figures on Thursday. The number of initial jobless claims in the week ending September 19 in the U.S. rose by 3,000 to 267,000 from 264,000 in the previous week. Analysts had expected the initial jobless claims to increase to 271,000.

The U.S. Commerce Department released new home sales data on Thursday. New home sales increased 5.7% to a seasonally adjusted annual rate of 552,000 units in August from 522,000 units in July. July's figure was revised up from 507,000 units. It was the highest figure since February 2008.

Concerns over the slowdown in the global economy also supported gold price.

Market participants are awaiting a speech by the Fed Chairwoman Janet Yellen today at 21:00 GMT. They hope to get an explanation on the Fed's decision on last Thursday.

October futures for gold on the COMEX today rose to 1154.30 dollars per ounce.

West Texas Intermediate futures for November delivery advanced to $44.80 (+0.72%), while Brent crude rose to $47.98 (+0.48%) as market participants continued assessing U.S. crude stockpiles data.

Data from the Energy Information Administration showed on Wednesday that U.S. crude oil stocks fell 1.9 million barrels in the week ended September 18 (the second weekly decline in a row). Gasoline stocks rose 1.4 million barrels. Meanwhile output rose 19,000 barrels per day to 9.136 million.

Gold climbed to $1,133.60 (+0.19%) ahead of Fed Chair Yellen's speech scheduled for today. Signs of a delay in rate hikes would ease pressure on bullion, while signs of readiness to raise interest rates soon would make this non-yielding asset less competitive.

Declines in Japanese stocks also supported gold.

(raw materials / closing price /% change)

Oil 44.60 +0.27%

Gold 1,129.50 -0.18%