Commodity Markets oil was on dull note and gold saw a bright day
The oil market ended the day on a dull note as an anticipated fuel stocks rose and weak demand data countered a lift from the dollar's slump after a consumer confidence drop fed expectations the Federal Reserve would print money to buy assets.
Jim Ritterbusch, president at Ritterbusch & Assoc. in Galena, Illinois said: "While we look for the (inventory) numbers to prompt a price sell-off, sustaining any price weakness could prove problematic if the equities remain strong and the dollar remains weak."
A barrel of crude oil for October delivery settled down 34 cents to settle at $76.18.
The precious metal gold saw a bright day as a weaker than forecast US consumer confidence reading boosted the metal's safe haven appeal and sent the dollar to fresh five-month lows versus the euro.
Daniel Briesemann, analyst at Commerzbank said: "Our economists were pessimistic but expected a drop to 50 only, far below 50 is a big disappointment."
Gold prices for December delivery settled $1,309.20 an ounce.
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