ZOID RESEARCH 30-JUNE-2014 : GOLD

At the start of the last week, spot gold prices traded near its two-month high of $1,321.90 on weak US equities and increasing violence in Iraq. The yellow metal climbed as investors switched out of equities after Germany's Ifo index of business sentiment fell more than expected in June. Gold later pared gains on encouraging U.S. new home sales and better consumer confidence data. Bullion prices rose on fears the Iraq conflict could escalate and a perceived lack of commitment by the Federal Reserve to raise interest rates, triggering a heavy bout of short covering.

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