The cost of WTI crude oil rose moderately today, heading for its second weekly increase, which helped to positive GDP data USA. Prices for Brent, the meanwhile, fell slightly.

As noted earlier, the United States Department of Commerce to improve the estimate of GDP growth in the second quarter of 2014 from 4.2% to 4.6%, based on an annual rate. Revision index coincided with the consensus forecast of analysts. Thus, the rise of the American economy in the April-June was the highest since the fourth quarter of 2012. Rise of the index PCE Core which closely tracks the Federal Reserve System in the assessment of the risks of inflation in the second quarter amounted to 2%. The rating index remained unchanged, as expected. In the first quarter, the indicator rose by 1.2%. Consumer spending, which accounts for 70% of America's GDP in April-June rose by 2.5% in terms of annual growth after an increase of 1%. Experts expect an increase in estimates from 2.5% to 2.9%.

"Improving the economic situation in the United States should have a positive impact on the fundamental prospects," - said Jean Makdzhillian, an analyst and broker Tradition Energy. - "The market is trying to stabilize.

Higher prices also contribute reports that air strikes on eastern Syria, where rebels are based Islamic state, occurred in the major oil fields in the country. But concerns about possible supply disruptions receded in the face of large-scale global production, as Libya has increased volumes despite the economic slowdown in Europe and China. In addition, on Thursday, Saudi Arabia, the world's largest oil exporter, said in August pumped 9.597 million barrels of oil per day. Although the volume decreased by 408,000 barrels per day from about 10 million barrels a day in July, the amount of crude oil supplied to the market, has reportedly increased to 9.688 million barrels per day in August.

Meanwhile, we add that Iran today urged OPEC jointly keep oil prices from falling further, but did not find understanding among the participants of the cartel, whose budgets are less dependent on oil prices. "Given the downward trend in prices, OPEC members should reduce production to avoid further price instability" - proposed Iranian Oil Minister Bijan Zanganeh. Iran's budget to the greatest extent among the 12 OPEC countries depend on world oil prices, so Iran, as a rule, in favor of measures to support prices. Others are members of the organization have not yet expressed concern decline in prices.

The cost of the November futures for the American light crude oil WTI (Light Sweet Crude Oil) rose to $ 92.83 a barrel on the New York Mercantile Exchange (NYMEX).

November futures price for North Sea Brent crude oil mixture fell $ 0.24 to $ 96.75 a barrel on the London exchange ICE Futures Europe.

Gold prices fell markedly today, heading for its fourth weekly drop in a row, due to the continued strengthening of the American currency.

"A strong dollar weakened the interest in gold. Demand for physical gold market can help to hold above $ 1,200, but demand is not high enough to support the market ", - said the chief dealer of Lee Cheong Gold Dealers Ronald Leung.

Many traders still do not rule out a drop in prices below $ 1,200 per ounce, which will result in further sales. Until now, falling prices are not driven by the recovery in demand for physical gold. Obviously, buyers in Asia are waiting, hoping for even lower prices. As a result, the dynamics of the price of gold is still dependent on Western investment demand. However, little support prices may have increased demand for gold in India in connection with the beginning of the holidays and the wedding season. Demand in China is also expected to increase at a holiday week from October 1.

The course of today's trading is also influenced American GDP data. It is learned that the United States economy grew at the fastest pace in the spring from the end of 2011: one more sign that the recovery is accelerating after five years of delay. Gross domestic product, the broadest measure of goods and services produced in the United States increased from a seasonally adjusted annual rate of 4.6% in the second quarter, the Commerce Department said. The Ministry had earlier said about the spring growth of 4.2%. Coincided with the revision of the forecast of economists. Economy last grew by 4.6% in the fourth quarter of 2011 and did not exceed this figure with the first three months of 2006. The last estimate (third) for the period from April to June, largely indicative of an increased level of investment in the business, in particular - for the construction of production facilities. Exports have also been revised upwards.

Experts say that after the GDP report the attention of the market gradually switched to the data on the labor market the United States, the publication of which is expected in the next Friday. This may limit the growth of quotations in the near future. Only if these data point to a slowdown in the economy, gold will be able to continue significant growth.

From a technical point of view, it is very likely that in the short term, gold will consolidate in a range 1200.00-1240.00. In this case, only way out of this range will contribute to the further development of medium-term trends.

The cost of the October gold futures on the COMEX today dropped to 1215.00 dollars per ounce.