(raw materials / closing price /% change)

Light Crude 82.95 +0.30%

Gold 1,238.40 -0.23%

West Texas Intermediate oil fell after a government report showed U.S. crude inventories expanded last week, exacerbating a global glut. Brent dropped to the lowest level in almost four years.

Futures slid as much as 2.4 percent in New York, declining for the seventh time in eight days. U.S. crude supplies rose 8.92 million barrels to 370.6 million last week, according to the Energy Information Administration. Stockpiles were projected to increase by 2.45 million barrels, according to the median estimate of 10 analysts surveyed by Bloomberg.

Prices have collapsed amid speculation that Saudi Arabia and other members of the Organization of Petroleum Exporting Countries will refrain from cuts needed to drain a surplus, according to Commerzbank AG.

WTI for November delivery fell $1.09, or 1.3 percent, to $80.69 a barrel at 11.03 a.m. on the New York Mercantile Exchange. It earlier touched $79.78, the least since June 29, 2012.

Brent for November settlement, which expires today, declined 33 cents, or 0.4 percent, to $83.45 a barrel on the London-based ICE Futures Europe exchange. Futures reached $82.60, the lowest since November 2010.

Gold prices fall, but still remain in the area of ​​the one-month peak, as American disappointing data released on Wednesday highlighted the concerns over the outlook of the world economy by supporting demand for refuge.

On Wednesday, the price of gold soared to a one-month high after a series of disappointing data weakened the American expectations of a quick increase of the rate of the Federal Reserve System.

The slowdown in interest rates can support gold, as it lowers the relative cost of the metal retention, which guarantees investors a profit.

At the same time, statistics published on Thursday the United States was better than expected, which supported the investors' confidence in the world's largest economy, and reduced demand for safe-haven assets.

Fed said: By the end of last month, the volume of industrial production increased significantly, registering with the highest growth in nearly two years, helped by the improvement in activity and an increase in the utilities sector. According to the data, the September industrial output increased by 1.0 percent after falling 0.2 percent in August (revised from -0.1 percent). Last increase was the highest since November 2012. Experts expect that figure to grow by 0.4 per cent.

Number of new applications for unemployment benefits fell substantially last week, reaching with fourteen low last week, suggesting continued improvement in the American labor market. The Labour Department said the seasonally adjusted number of initial claims for unemployment benefits fell for the week ending Oct. 11, 23 000 - 264 000 to the level of last reading was the lowest since April 10-15, 2000 (when the number of calls was 259 th.). Economists forecast that the number of appeals will be 286 thousand.

The world's largest reserves of the gold-exchange trading fund SPDR Gold Trust on Wednesday fell by 0.27 percent to 759.14 tons. Physical demand in Asia declined, as evidenced by the decline in margins in China's largest consumer of gold to $ 01.02 an ounce to the indicative spot price from $ 4 on Wednesday. Demand for gold tends to rise in China and India in the fourth quarter due to holidays and weddings.

The cost of the December gold futures on the COMEX today dropped to 1235.20 dollars per ounce.