XAUUSD Gains Amid Growing Tensions Over Ukraine And ME

by on August 13, 2014 9:56 am BST

XAUUSD for immediate delivery lost 0.2 percent to $1,307.26 an ounce by 8:19 AM GMT. It reached $1,322.76 on Aug. 8, the highest since July 18. Gold for December delivery fell 0.2 percent to $1,308.30 on the Comex in New York

XAUUSD is trending around a 3-week high as investors weighed an improving U.S. economy against tensions over Ukraine and in the Middle East.

Gold Futures trading volume was 39 percent below the average for the past 100 days for this time of day.

Ukraine expressed fears the convoy is carrying military equipment to aid the pro-Russian separatists. Ukraine blames Russian President Vladimir Putin for stoking a separatist war that has killed more than 1,200 people in the east after annexing the Crimean peninsula in March.

The Federal Reserve is cutting debt purchases and contemplating interest-rate increases as the economy strengthens. The dollar was near a nine-month high versus the euro after data showed yesterday German investor confidence slumped and before a report today that may show U.S. retail sales increased for a sixth month.

Silver for immediate delivery was little changed at $19.912 an ounce in London. Platinum added 0.1 percent to $1,470.88 an ounce. Palladium lost 0.1 percent to $877.09 an ounce. It reached a 13-year high of $889.75 on July 17.