Friday’s Oil And Gold Analysis

San Francisco (Nov 9)   Crude Oil dropped to the lowest level in more than four months as the euro tumbled against the dollar after the European Central Bank unexpectedly cut its benchmark rate to a record low.as U.S. gross domestic product rose at a 2.8 percent annualized rate in the third quarter after a 2.5 percent gain the prior three months, a Commerce Department report showed today in Washington.

GOLD
Gold production rose 14 percent from a year earlier to 233,677 ounces as volumes, gold mine in Mali increased 27 percent, countering a 3.2 percent drop at Tongon in Ivory Coast. Net income fell 21 percent to $81.2 million as the price of bullion declined. Randgold Resources Ltd. (RRS), a producer of the metal in Africa, rose the most in more than a month in London trading after record production at its Mali mine propelled earnings beyond analyst expectations.