Gold spikes $1,300

FXStreet (Edinburgh) - Renewed jitters around the Russia-Ukraine front are boosting the demand for the precious metal, pushing the ounce troy beyond the critical $1,300 mark on Wednesday.

Spot gold is thus managing to leave behind recent pullbacks within a context of a stronger greenback, although analysts’ consensus continues to be a ‘sell-on-strength’ one, with the initial downside target the 55-d MA at $1,284.