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Sunday, 31 August 2014

Gold is trading at flat level; US interest to cue in


COMEX Gold trades are trading flat today with facing a little fluctuations on the return of Russian-Ukraine crisis. Investors moved to the safer side of the markets to the yellow metal investments.

Prices of gold are hopping as jewelry designers are buying in the metal to prepare for the upcoming festival demand. The commodity fell down to the lowest point in the last 2-months in the last week which passed off overnight.

Bullions market on the other hand is still on recovery to reach the benchmark level at $ 1,300 which is dooming down because of unstable news on US interest rate gains.

President of Ukraine quoted, "Russians are entering in our country again with support from pro-Moscow rebellions who are threatening our coastal areas." This news further followed a hint of starting a separatist war which is an alarming situation for Kiev's Western associations.

Gold exchanged at $1,288.59 per ounce rate according to the record at 0608 GMT. A hike in the price of gold by over 0.5 percent in August delivery commodity is making news after the last cue when it dropped 3.4 percent off the mark.

Gold market is trading flat at the moment in order to bent in a bullish trend, US interest rates need to move up the line according to a commodity analyst based in Hong Kong.

U.S. gold trading value moved a little to $1,289.70 an ounce. Gold bar premiums over London prices stood at between 80 cents and $1.10 in Hong Kong and at closer levels between 80 cents to $1.00 in Singapore. In Tokyo, the premium value charges amounted to zero, i.e. keeping the prices at par with price declared in London.

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