MTECHTIPS:-Crude

oil edges lower ahead of central bank

meetings
Crude oil futures edged lower in European morning trade on Monday, as investors remained cautious ahead of global central bank meetings later in the week, amid speculation over the possibility of further easing measures. On the New York Mercantile Exchange, light, sweet crude futures for delivery in September traded at USD90.08 a barrel during European morning trade, down 0.07%.Data on Friday showed that U.S. economic growth came in broadly in line with expectations in the second quarter, tempering expectations for a third round of quantitative easing measures from the Federal Reserve at its policy meeting on Wednesday.The Commerce Department said U.S. gross domestic product expanded by 1.5% in the three months to June, after growing by an upwardly revised 2.0% in the first quarter.Investors have interpreted signs of slowing U.S. economic growth as increasing the likelihood that the Federal Reserve will implement more stimulus measures to shore up the economic recovery.The U.S. is the worlds biggest oil-consuming country, responsible for almost 22% of global oil demand.

MTECHTIPS:-Gold little changed ahead of central bank meetings

Gold prices were steady in early European trade on Monday, as investors stayed on the sidelines ahead of central bank meetings in the U.S. and Europe, amid speculation over whether policymakers will implement further easing measures.On the Comex division of the New York Mercantile Exchange, gold futures for October delivery traded at USD1,620.35 a troy ounce during early European trade, inching up 0.02%.Gold futures were likely to test support at USD1,610.75 a troy ounce, the low from July 27, and resistance at USD1,628.55, the high from July 17.Data on Friday showed that U.S. economic growth came in broadly in line with expectations in the second quarter, tempering expectations for a third round of quantitative easing measures from the Federal Reserve at its policy meeting on Wednesday.The Commerce Department said U.S. gross domestic product expanded by 1.5% in the three months to June, after growing by an upwardly revised 2.0% in the first quarter.Gold and the dollar trade inversely, and talk the Fed is considering easing can weaken the greenback and send the yellow metal higher.Investors were keenly awaiting the outcome of Thursdays European Central Bank policy meeting after the banks head Mario Draghi pledged last week to do whatever is necessary to preserve the euro.The remarks fuelled expectations that the ECB is set to announce fresh policy measures to stem the crisis in the euro zone.

MTECHTIPS:-Gold

extends gains on U.S. GDP data, talk of Fed

stimulus
Gold prices rose in Asian trading on Monday, extending Friday's gains after sluggish U.S. gross domestic product rates fueled more talk of Federal Reserve stimulus in early Asia trading on Monday.On the Comex division of the New York Mercantile Exchange, gold futures for October delivery were up 0.24% and trading at USD1,624.25 a troy ounce, up from a session low of USD1,622.35 and down from a high of USD1,624.85 a troy ounce early during the session.Gold futures were likely to test support at USD1,610.75 a troy ounce, the low from July 27, and resistance at USD1,628.55, the high from July 17.The U.S. economy grew 1.5% in the second quarter of the year, according to an advance estimate by the Commerce Department released on Friday.U.S. growth figures largely met expectations, but the number indicated the economy may been close to hitting stall speed and in need of Federal Reserve intervention. Monetary stimulus would possibly come through quantitative easing, which sees the U.S. central bank buy bonds from banks, pumping the economy full of liquidity in the process and weakening the dollar to spur recovery.Gold and the dollar trade inversely, and talk the Fed is considering easing can send the greenback falling and the yellow metal gaining.

MTECHTIPS:-Crude

falls as market digests GDP data, Fed

meeting

Crude oil futures fell in Asian trading on Monday on sentiment the U.S. economy is growing at a sluggish pace and in need of less fuels and energy to grow.The Federal Reserve will announce its latest decision on interest rates this week while the Bureau of Labor Statistics will unveil its July jobs report on Friday, which kept the market awaiting hintsof any need of economic stimulus from the U.S. central bank.On the New York Mercantile Exchange, light, sweet crude futures for delivery in September traded at USD89.92 a barrel on Monday, down 0.24%, off from a session high of USD90.07 and up from an earlier session low of USD89.89.The U.S gross domestic product grew 1.5% on year during the second quarter, according to advance estimates from the Commerce Department released Friday.The numbers were largely in line with market expectations, even outpacing some, though they still pointed to a weak recovery and possibly in need of a monetary kick-start. The Federal Reserve meets this week as does the European Central Bank to discuss monetary policy.