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Monday, September 3, 2012

Oil fell from its highest level in two weeks amid Chinese data .. Gold rises to its highest level in five months amid hopes an cash incentives

Oil: Oil prices fell on Monday highest close in nearly two weeks after a decline unexpectedly in the manufacturing sector in China as well as the resumption of production in the Gulf of Mexico after Hurricane Isaac, which put pressure on oil prices downward, to record futures fell by 0.5 % in New York after Mkaspa monthly was the biggest since October, after data showed office Allogesitat and purchases Index procurement manager in the industrial sector in China contracted for the first time in nine months during the month of August, where index level at 49.2 points against the former at 50.1 July where prices fell crude oil futures for October at 46 cents to a level of $ 96.01 a barrel on the trading electronic New York Mercantile Exchange down from the level at $ 96.32 a barrel at 12:19 am pm EST Singapore to reflect the contract rising 2.0% to a level of 96.47 $ a barrel on Aug. 31, the highest closing level since August 22 marking the crude prices rose 9.6% in August, a monthly earnings second straight trimming of decline this year to decline by 2.5%, and on the other side the price of Brent in contracts futures for October by about 19 cents to a level of $ 114.38 a barrel.

Gold: stabilized gold prices on Monday near its highest level in five months with the support of the hopes in further stimulus measures after he left President Federal Reserve Bank "Ben Bernanke" last week the door open for further mitigation in monetary policy, prompting some demand for the metal as a means to hedge against rising prices, this has been recorded in gold prices in trading instant morning level of $ 1,689.14 an ounce after settled near the highest level in five months at at $ 1,692.71 an ounce, while gold prices rose in futures in the United States for the month of December by 0.2% to a level of $ 1691.70 an ounce, and on the other side rose silver prices today in Asian session about 0.3% to a level of $ 31.79 an ounce, as prices rose platinum rose 0.7% to a level of $ 1539.24 an ounce after falling by 0.8% during the last week to reflect Mkaspa weekly spanned nearly two weeks in a row, while palladium prices rose by 2.2% to a level of $ 628.72 an ounce.

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