Gold News

Gold little changed trading around $890/oz and waiting for a direction

Gold little changed trading around $890/oz and waiting for a direction

Bullion earlier got a boost when Asian stocks pared gains asinvestors cash in profits after China posted its slowest quarterlygrowth ever

Gold was little changed around $890 per ounce on Thursday, torn betweenweakening stock markets and a lack of strong physical buying. Bullionearlier got a boost when Asian stocks pared gains as investors cash inprofits after China posted its slowest quarterly growth ever. Theworld’s largest gold-backed exchange-traded fund, the SPDR Gold Trust,said its holdings as of April 15 remained unchanged at a record1,127.68 tons, a level first reached on April 9. Gold is trading at$892 as of 9:15am, London Time. Gold’s Pool-Position is 79% Longmeaning that most 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