Gold spikes $1,300

FXStreet (Edinburgh) - Renewed jitters around the Russia-Ukraine front are boosting the demand for the precious metal, pushing the ounce troy beyond the critical $1,300 mark on Wednesday.

Spot gold is thus managing to leave behind recent pullbacks within a context of a stronger greenback, although analysts’ consensus continues to be a ‘sell-on-strength’ one, with the initial downside target the 55-d MA at $1,284.

Aug 6, 2014

Better than expected US June trade balance data boosts growth hopes - ING

James Knightley from ING suggests that the narrowing of the US trade deficit to $-41.5 billion, in the light of market consensus for a $-44.8 billion result, increases hopes for a upward Q2 GDP revision.

ECB will not embark on further actions any time soon - Clemente De Lucia

Clemente De Lucia, Economist at BNP Paribas, doesn't expect the ECB to adjust its monetary policy in any way on Thursday, as the central bank needs more time to assess the impact of measures introduced in June.