Analytics, News, and Forecasts for CFD Markets: raw news — 28-08-2014.

Oil prices rose slightly today, closer to $ 103 per barrel (Brent), not much above 14-month low. This is due to an adequate margin and weak demand as global economic growth remains moderate.

Support prices have data on the United States, so far, that the gross domestic product of the United States increased by 4.2% in the second quarter, exceeding the expectations of growth of 3.9%, after expanding by 4.0% in the three months to April. In addition, the United States Department of Labor reported that the number of initial claims for unemployment insurance for the week ending August 22 fell by 1,000 to 298,000 from a revised 299,000 the previous week. Analysts had expected the number of hits will be at the level of 299 thousand. Strong data confirmed the comments of Fed Chairman Janet Yellen, the data on the last week in Jackson Hole, that the United States economy is recovering and the situation on the labor market is improving.

Meanwhile, the impact on prices of increased tension in Ukraine. According to reports, the separatists have intensified fighting in the east of the country. Against this background, the Ukrainian president Poroshenko called an emergency meeting of security to guard against what he called Russia's "invasion."

In addition, market participants continue to analyze yesterday's data on oil reserves in the United States. Recall inventory of oil in the United States fell last week to 2.07 million barrels to 360.5 million barrels. However, oil reserves in Cushing terminal, which stores the physical volume of oil traded on the NYMEX, increased by 508 thousand. Barrels for the week ended August 22, to 20.7 million barrels. The rise has been going on for four weeks. Volumes of gasoline in the United States decreased by storage 960 thousand. Barrels to 212.3 million barrels, with expected to fall by 1.6 million.

Traders also act out the news about the closing of Buzzard field in the North Sea on the additional repairs, speculating on the timing of the resumption of production at the field.

The cost of the October futures on American light crude oil WTI (Light Sweet Crude Oil) to the present moment has increased to $ 94.50 per barrel on the New York Mercantile Exchange (NYMEX).

October futures price for North Sea Brent crude oil mixture rose $ 0.15 to $ 102.72 a barrel on the London exchange ICE Futures Europe.

The price of gold has grown considerably today, reaching a one-week high at the same time, due to the escalation of tensions between Russia and Ukraine. However, strong economic data the United States dropped the demand for safe-haven assets, which put pressure on the price of the precious metal.

Today it was reported that the Ukrainian president Poroshenko canceled a trip to Turkey because of "the invasion of Russian troops on the territory of Ukraine." Indicating the intention Poroshenko call for an emergency meeting of the organization of the UN Security Council and the Council of the EU to resolve the situation. We also learned that the President urgently convene a meeting of the National Security and Defence. Russia has not yet submitted any comments, but Moscow has repeatedly denied allegations that its troops conducting military operations in Ukraine.

As for the data on the United States, they have shown that in the second quarter growth of the American economy has been more resilient than previously thought, putting the recovery back on track. Gross domestic product (overall goods and services produced in the economy) rose to a seasonally adjusted annual rate of up to 4.2% in the second quarter, said on Thursday the Ministry of Commerce. DOC previously estimated growth rate in the second quarter to 4%, based on incomplete data on international trade, stocks and other sectors. Economists had expected growth for the second quarter will be reduced to 3.9%. Positive data fueled optimism about the state of health of the economy and reinforced expectations that the Fed will raise rates earlier than previously thought.

"Adverse factors for gold is more than favorable, at least in the short term. Demand among investors and jewelers are still weak, although there are signs of increasing in India, "- said analyst Edward Meir INTL FCStone.

Demand in India, especially for silver, grew up in connection with the upcoming holiday season. The last two days the demand was high, but now all is quiet. The physical market in Singapore margins on gold bars are stable at $ 0.80-1.00 to the spot price in London.

From a technical point of view, today and in the coming days, the price of gold price dynamics will be limited to the level of support $ 1,280.0 an ounce resistance level $ 1300.0 per ounce.

The cost of the October gold futures on the COMEX currently increased to $ 1289.20 per ounce.