Morning in brief: Gold traders most bullish in months

Gold traders are expecting prices to rise again as eurozone sovereign debt concerns continue to weigh heavily on the market, while China reports its largest trade deficit in a decade.

Commodities

A survey of gold traders by Blooomberg has revealed that gold prices are set to rise again as demand for the metal increases against a backdrop of economic uncertainty.

International

Chinese authorities have reported a surge in the country’s trade deficit to $31.5 billion (£20 billion) as imports rose by 39.6%, according to the BBC.

UK

The Scottish deputy first minister has confirmed that an independent Scotland would have had to rely on UK government help to bail-out Royal Bank of Scotland Group, reports the BBC.

Deputy prime minister Nick Clegg has softened his stance on a “tycoon tax” just days after he announced it at the Liberal Democrat party conference, writes the Financial Times.

Companies

Bank of England governor Mervyn King has railed against banks, saying public anger was “very real and wholly understandable”, the Daily Telegraph reports.