Crude Oil
Crude prices fell in Asia, continuing overnight declines on a bearish U.S. stocks report and a lack of fresh geopolitical drivers. a bearish U.S. weekly inventory report, soft retail sales figures and waning concerns that conflicts in Ukraine and in the Mideast will crimp global supplies sent crude prices falling, The U.S. Energy Information Administration said in its weekly report that U.S. crude oil inventories rose by 1.4 million barrels in the week ended Aug. 8, confounding expectations for a decline of 2.0 million barrels. U.S. crude oil inventories stood at 367.0 million barrels as of last week. The report also showed that total motor gasoline inventories decreased by 1.2 million barrels, compared to forecasts for a decline of 1.1 million barrels, while distillate stockpiles fell by 2.4 million barrels, defying market calls for a build of 214,000 barrels.
Gold
Gold prices eased in Asia led by profit-taking after gains overnight on bearish U.S retail sales data. Overnight, gold prices spiked after U.S. retail sales figures disappointed markets, which reminded investors the Federal Reserve won't rush to tighten monetary policy, The numbers softened the dollar by reminding investors that the Federal Reserve won't rush after it closes its monthly bond-buying program, which is seen taking place in October. Loose monetary policies tend to bolster gold due to its appeal as a hedge to weaker paper currencies.
