ZOID RESEARCH 13-AUGUST-2014 :GOLD

Spot gold prices gained on Tuesday on standoff between Russia and Ukraine hurting economic confidence in the euro zone economy. Investor morale in Germany, Europe's largest economy, plunged in August to its lowest level in more than a year and a half as the crisis in Ukraine took its toll, the ZEW monthly survey showed. Gold prices gained further grounds as the S&P 500 equities index slipped on heightened uncertainty over Ukraine and the Middle East.Russia said a convoy of 280 trucks had left for Ukrain carrying humanitarian aid, amid Western warnings against using help as a pretext for an invasion. Also,investors have been cutting positions in SPDR Gold Trust, the world's largest gold-backed exchange-traded fund.On the MCX, gold prices gained by 0.34 percent and closed at Rs.28730/10gms.

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