Gold gains as the dollar weakens and the economic outlook looks uncertain

prompting some investors to shift money into precious metals as a safe haven

prompting some investors to shift money into precious metals as a safe haven

Gold gained on speculation of dollar weakness ahead, prompting some investors to shift money into precious metals as a safe haven. “I’m a gold bull, the main reason would be because the dollar will weaken at some point,” Helen Henton, head of commodity research at Standard Chartered Plc. “There’s been a change in sentiment in the markets over the global economic outlook and commodities are benefiting from that,” said Standard Chartered’s Henton. The benchmark MSCI Asia Pacific Index advanced for a fourth day after Goldman Sachs Group Inc.’s earnings beat estimates, and amid speculation government stimulus efforts worldwide will succeed in easing the global financial crisis. Gold is trading at $895 as of 9:55am, London Time. Gold’s Pool-position is 55% Long, meaning that just over half of Finotec traders are buying the precious metal.

Derivative and forex trading broker Finotec is a division of leading real-time Internet trading company Finotec Trading Inc, which pioneered the world of online forex trading in 1998. After launching our revolutionary forex online trading platform in 2001, we continued to improve our services and now serve clients of all sizes in many locations worldwide, offering them real-time Internet trading not only in currencies, but also in options, commodities,... More