RTRS:COMMODITIES-Crude oil, copper head for quarterly drop
* Brent crude, Shanghai copper set for quarterly declines
* Gold heads for 12th straight quarter of gains
* China's exchanges to close Oct. 3-7
* Coming Up: U.S. consumption, Reuters/University of Michigan Sentiment Index
By Jane Lee
SINGAPORE, Sept 30 (Reuters) - Crude and copper prices had a quiet end on Friday to a quarter that has seen prices of fuel and industrial metals buffeted by fears that slowing global growth will undermine demand.
Brent crude is set for a 7.1 percent loss this quarter, its worst performance in more than two years, while London copper lost more than a fifth of its value, its biggest drop since the financial crisis of 2008.
In comparison, gold, seen as a safe haven in times of trouble, extended its run of gains to a 12th straight quarter.
Europe's debt crisis and the possibility of Greece's default have prompted investors to flee commodities and stocks in favor of the U.S. dollar, which is poised for its best monthly gain in 10.
Asian stocks fell, extending the worst monthly performance since the most volatile days of the global financial crisis in October 2008.
"Sentiment is negative on the macro-economic front but demand is still there, especially coming from the emerging markets, from China and India," said Ker Chung Yang, a commodities analyst at Phillip Futures in Singapore.
"Crude oil has been holding up quite well compared with the other asset classes such as equities."
Fears that Europe's financial troubles will spread have heightened concern demand for industrial metals will slow as manufacturers in China and the rest of Asia cut production.
ICE Brent LCOc1 for November settlement rose 55 cents, or 0.5 percent, to $104.50 a barrel by 0557 GMT. Prices are poised for a monthly drop of 9 percent, the biggest since May 2010.
Brent is expected to fall back to the previous trading session's low of $102.35 as indicated by its wave pattern and a Fibonacci retracement analysis, according to Reuters market analyst Wang Tao.
U.S. crude CLc1 for November delivery gained 80 cents, or 1 percent, to $82.94 a barrel. Futures have fallen 13 percent this quarter, the worst drop since the final quarter of 2008.
Oil will be between $80 and $90 by the end of this year, according to Phillip Futures' Ker. Prices ended at $91.38 a barrel in 2010.
METALS
"Markets are hanging onto every development in the euro zone even though things are moving at a much slower pace than U.S. traders are accustomed to," said Tom Pawlicki, an energy and precious metals analyst at MF Global Securities, in a report on Friday.
Spot gold added $12.85 an ounce to $1,627.79 an ounce by 0601 GMT. Despite the gain, prices were headed for a monthly fall of 11 percent, their worst since October 2008 when they tumbled 17 percent after the collapse of Lehman Brothers.
London copper fell 2.4 percent on Friday, heading for its worst month in three years on concerns that a global economic slowdown will hit demand for the metal and as Chinese investors closed out long positions.
Three-month copper on the London Metal Exchange fell to $7,215 a tonne by 0603 GMT, and has lost nearly a quarter of its value this month, the biggest drop since the financial crisis of 2008.
CHINA'S HOLIDAY
China's exchanges will be closed next week for the national holiday. Trading will resume on Oct. 10.
"LME copper's fall today is quite normal in this volatile climate," Zhao Kai, an analyst at Jinrui Futures, said in Shanghai.
"Chinese investors are still feeling bearish since it's before a long holiday and the longs are exiting the markets."
U.S. wheat futures rose for a second day and are on track for their first quarterly gain in three as dry weather threatens winter plantings around the world.
Wheat has risen 13 percent so far in the September quarter, its best showing since the last quarter of 2010, far outpacing corn's increase of less than 1 percent. Analysts say much tighter global supplies of corn should keep it a key theme in grain markets going forward.
December wheat on the Chicago Board of Trade rose 0.8 percent to $6.59-3/4 a bushel by 0606 GMT, adding to a gain of 2.4 percent on Thursday, which was its biggest in more than a month. (With additional reporting by Carrie Ho, Francis Kan, Manolo Serapio Jr and Lewa Pardomuan; Editing by Clarence Fernandez)
