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Gold trading breaks even over August

1st September 2014

Gold trading ended August at more or less the same level as it started it at, as the recent trend for two steps forward, one step back continued into the final session of last month.

Thursday had seen some decent gains made to the gold price on the back of Nato photos which purported to show a Russian armoured column making its way into eastern Ukraine. However, as the countries have been antagonising each other for so long now, investors are somewhat fatigued and the conflict probably won't cause major waves until something significant happens.

Similar is true of US fiscal policy, with the 'something significant' likely to be a further cut in monetary stimulus. Unlike the stramash in Eastern Europe, tightening policy would be viewed as a negative in gold trading.

A lack of physical demand is also weighing on the gold price, with the higher prices over the past week putting potential buyers off the precious metal. By 0700 GMT today, the gold price sat at $1,288 an ounce.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.