Oil And Gold Analysis

NEW YORK (Oct 10)  Crude declined after a government report showed U.S. inventories grew by the most in a year as refineries reduced crude processing. Prices capped the biggest drop in four weeks after the Energy Information Administration said supplies rose 6.81 million barrels last week, a five-month low. WTI also fell as talks to end the government shutdown and lift the debt ceiling remained deadlocked.

GOLD
Gold fell the most in a week, dropping below $1,300 an ounce. The Federal Reserve is scheduled to release minutes of last month’s meeting, when policy makers unexpectedly refrained from reducing monetary stimulus. Bullion slumped 22 percent this year on concern that the central bank will taper its $85 billion of monthly bond purchases as the economy improves.