Crude oil futures rose more than 2%, as presented today upbeat economic reports in the U.S. have helped to improve the prospects for energy demand.

In addition, the positive impact on the bidding had data for China. The official report showed that the index of manufacturing activity in China rose at the end of last month to the level of 50.3, down from 50.1 in June. It is worth noting that the last reading was much better than the experts' forecasts - at the level of 49.8. We also add that the last time the official PMI declined below 50, which is the boundary reduction of activity in September 2012. However, we note that the index of manufacturing activity in China from HSBC sold with an official - he was down to 47.7 from the June value at 48.2. July data show that the index is in the drop zone for the third month in a row, including two months of testimony index from HSBC and formal differ.

As for the U.S. data, the report published by the Institute for Supply Management (ISM), showed that in July, manufacturing activity in the U.S. rose more than expected by economists. The PMI for the manufacturing sector in the United States July rose to 55.4 against 50.9 in May. A reading above 50 indicates expansion of industrial activity. Growth has exceeded the expectations of economists, who had forecast an increase to 52.1. Rise in the index was mainly due to good growth component of production, new orders and employment. At the same time, inventories and prices in July fell.

It should also be noted that the price of oil also laid yesterday's statement by the U.S. Federal Reserve. Recall that the Fed slightly lowered its economic forecast and did not give a hint about its plans for the program to purchase assets. This raises the possibility that the central bank may refrain from reducing the size of the program by the end of this year.

The cost of the September futures on U.S. light crude oil WTI (Light Sweet Crude Oil) rose to 107.53 dollars a barrel on the New York Mercantile Exchange.

September futures price for North Sea Brent crude oil mixture increased to $ 109.13 a barrel on the London exchange ICE Futures Europe.

Gold prices fell sharply, reaching almost yesterday's lows, on expectations of tomorrow's jobs report. It is expected that the number of employees rose again in July, but has a slower pace. Partial confirmation of this forecast is to reduce the average number of initial applications for unemployment benefits over the past four weeks and the likely improvement of manufacturing employment. However, the weak gains in the services sector may weigh on the July employment rate. We also add that, despite the improvement in the labor market, the unemployment rate in June remained at 7.6%, although it is expected to fall to 7.5% in July.

It should be noted that the dynamics of trade also continue to influence the Fed's statement yesterday, in spite of the fact that carried no indication of a change in monetary policy.

We also add that, according to Commerzbank, gold reserves for ETFs generally remained unchanged for six consecutive days, while stocks in the SPDR Trust - the largest gold exchange-traded fund, were unchanged for five consecutive days.

Not unimportant factor that continues to influence prices is to reduce the physical demand in India, where the government tried to curb the import of precious metals in the country through a variety of tax and direct action.

The cost of the August gold futures on COMEX today dropped to $ 1315.20 per ounce.

Change % Change Last

GOLD 1,321.60 -2.40 -0.18%

OIL (WTI) 105.17 2.09 2.03%