Oil heads for second weekly decline on concern that slowing economic growth will reduce demand. Also, the Organization of Petroleum Exporting Countries said that the level of reserves is adequate.

Prices fluctuated since the Commerce Department said the U.S. reported that consumer spending rose by 0.5%, in line with expectations of analysts. Also, yesterday's data showed that the rate of economic growth in the second quarter were lower than originally anticipated.

Secretary General of OPEC's El-Badri said today that "OPEC spare capacity and commercial inventories of common enough. The market is currently well supplied, and we see no deficit. "

Traders are also watching developments in the Middle East. Countries in this region and in North Africa produces 36% of the total amount of oil and kept about 52% of stocks in 2011.

Also yesterday, Israeli Prime Minister Benjamin Netanyahu called on the international community to close Iran's nuclear program

Today, as two dozen countries that are focused on supporting the political opposition of Syria, will meet amid increasing signs that the regime of President Bashar al-Assad is losing control of the country.

October futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) on the NYMEX is now $91,58 per barrel.

November futures price of North Sea Brent crude oil mix is ​​now $111,73 a barrel on the ICE Futures Europe Exchange.

Gold prices fell sharply today as the dollar went into positive territory against a basket of currencies. But, despite this, the precious metal remains on track for its largest quarterly gain of 10.9%, more than two years amid easing measures announced by the central banks of the world.

The most obvious catalyst for gold this year will be good news from Europe. And if we add to this the weakness of the dollar, the price of gold will reach new maximum values ​​noted in this year.

But the situation is emerging a little different. Today it was reported that the yield on 10-year bonds of Spain again exceeded the level of 6%, which is also reflected in European stocks that declined.

Little optimistic today was marked against the budget plan presented yesterday to the Spanish in 2013, the GDP of France and hesitant growth of the world economy.

Precious metals can also fix a positive quarter in terms of investment in gold exchange-traded funds. According to the data, gold is on the way to the largest quarterly inflow over the year at 3.285 million ounces.

From a technical point of view, the gold market is marked upward trend, but it faces a resistance at the maximum values ​​of 2012 at around $ 1791 per ounce. A move above the $ 1788 level will confirm the base at around $ 1737 and will open the way to $ 1803, and if this resistance is overcome, the growth may continue until the value of $ 1921 per ounce.

October futures price of gold on the COMEX is now 1773.30 an ounce.

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Oil $89.95 -0.03 -0.03%