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.