By Claudia Assis
SAN FRANCISCO (MarketWatch) -- Crude-oil futures trimmed losses Thursday after reports on industrial activity in the Philadelphia area and on existing housing. Gold, however, deepened its decline. Oil for February delivery was off $2.12, or 2.3%, to $88.74 a barrel on the New York Mercantile Exchange. February gold declined $25.10, or 1.8% to $1,345 an ounce. The index of manufacturing activity in the Philadelphia region dipped slightly in January, the Federal Reserve Bank of Philadelphia reported Thursday, but the decline was a bit less than expected. Sales of existing homes jumped 12.3% in December, beating estimates of 4.88 million.
