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24.04.2014 15:20

Gold: an overview of the market situation

Gold prices have risen markedly today returned with all previously lost ground, which was due to the escalation of tension between Russia and Ukraine.

" Because of the situation in south-east Ukraine began teaching Russian troops." The Minister and Defense Minister Sergei Shoigu said before a meeting of the board of the military department . According to him, on Thursday in the border regions of Ukraine began teaching battalion tactical groups combined arms southern and western military districts. Work out issues committing troops march under their own power , and deployment to perform assigned tasks .

" The sudden increase in tensions in the Ukraine would support the market , especially at a time when traders are waiting for an event that would have tipped the market to increase or decrease ," - said Phillip Futures investment analyst Joyce Liu .

I also add that the decline in investment demand causes an outflow of funds backed by gold exchange-traded funds . Stocks of the largest of them SPDR Gold Trust last week decreased by 9.3 tons.

The course of today's trading also affected the U.S. data , which showed that the number of Americans applying for first time unemployment benefits rose last week , becoming a sign of increasing the number of layoffs after they touched the seven-year low earlier this month . The number of initial claims for unemployment benefits , a measure of layoffs, increased by 24,000 to a seasonally adjusted 329,000 in the week ended April 19. This was stated by the Ministry of Labour on Thursday . Weekly gain was the biggest since December. Economists had expected 309,000 new claims last week. The number of calls for the previous week was revised higher by 1000 to 305,000 . Labor Department said that there were no special factors influencing the latest data.

June futures on COMEX gold rose to $ 1291.30 .

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