Oil has risen moderately today, due to the escalation of tensions in Ukraine. However, prices are still on the way to the monthly fall, as an ample supply and weak demand outweighs political problems. In August, both brands fell more than 3%.

Analysts believe that the market will support the deterioration of the situation in Ukraine. President of Ukraine Petro Poroshenko accused Russia of supporting separatists counteroffensive in the south-east of the country; the leaders of Germany, Britain, France and Italy after NATO also called Russia guilty of escalating military conflict and threatened new sanctions.

"If tensions increase, in the price of oil is likely to be laid small margin" - the analyst said OptionsXpress in Sydney Ben Le Brun.

Little impact on the course of today's trading had American data. The final results of studies presented Thomson-Reuters and the Institute of Michigan, in August of American consumers feel more optimistic about the economy than had been recorded in the last month. According to the data, in August, the final index of consumer sentiment rose to 82.5 compared with a final reading in July at 81.8 and the initial estimate for August at around 79.2. It is worth noting that, according to the average estimates of experts, the index was down compared with the July to reach a value of 80.4. Meanwhile, another report showed:

seasonally adjusted purchasing managers' index for August Chicago rose to 64.3 against 52.6 in July. According to the average forecasts of experts, the value of this indicator was to rise to the level of 56.3.

Positive dynamics is also due to expectations of maintaining stable global energy demand. The market continues to have a strong and published on the eve of macroeconomic statistics for the United States, primarily in the American GDP for the II quarter of 2014. Increased demand for WTI crude oil today is due to additional upcoming September 1 absence of the trading session on the NYMEX in connection with a holiday day off in the United States. Recall, September 1, in the United States will celebrate Labor Day a federal holiday. For oil traders this holiday traditionally marks the end of the summer driving season and a noticeable decline in demand for gasoline and diesel fuel.

The cost of the October futures on American light crude oil WTI (Light Sweet Crude Oil) to the present moment has increased to $ 95.09 per barrel on the New York Mercantile Exchange (NYMEX).

October futures price for North Sea Brent crude oil mixture rose $ 0.20 to $ 102.73 a barrel on the London exchange ICE Futures Europe.

The price of gold has grown considerably, returning with almost all previously lost ground since yesterday's upbeat economic reports the United States continues to support demand for the American currency, but the tension between Russia and Ukraine has forced investors to seek safe-haven assets.

Experts point out that the United States GDP data showed accelerated growth of the economy. In addition, the number of applications for unemployment benefits was lower than analysts had forecast. This statistic has supported the American dollar, which has a negative impact on the dynamics of gold

We also recall that yesterday the president of Ukraine Petro Poroshenko on Thursday accused Russia of supporting separatists counteroffensive in the south-east of the country; the leaders of Germany, Britain, France and Italy after NATO also called Russia guilty of escalating military conflict and threatened new sanctions.

"If prices rise above $ 1,300, will begin selling. Need to monitor the situation in Ukraine. The mood in the gold market is not very optimistic, forward to the increase in interest rates, "- said a senior dealer at Lee Cheong Gold Dealers in Hong Kong Ronald Leung.

Market participants are also watching the situation in the eurozone. Today's report showed: inflation in the euro zone in August, as expected, has slowed amid falling energy prices. Inflation fell to 0.3 percent from 0.4 percent in July. The result coincided with economists' expectations. Inflation has moved further down on the target level of the European Central Bank "below but close to 2 percent." Meanwhile, core inflation, which excludes prices of energy, food, alcohol and tobacco, rose slightly by 0.9 percent in August from 0.8 percent in July.

We also add that the probability of reducing the price of gold will continue in the coming months due to low demand in the physical market of China. Delivery of gold from Hong Kong to China in July fell to a three-year minimum 22,107 tons with 40,543 tons in June. Margins on gold bars in Hong Kong rose to $ 0,80- $ 1.10 per ounce to the price in London. Margins in Singapore held at $ 0,80- $ 1.00 to London prices, and the price in Tokyo is the same as London.

Experts point out that today and in the coming days, the price of gold will be limited to the level of support $ 1,285.0 an ounce resistance level $ 1300.0 per ounce.

The cost of the October gold futures on the COMEX to date is $ 1288.30 per ounce.