Gold steady as investors decide on the state of the world economy

Gold holdings in the SPDR Gold Trust, the biggest exchange-traded fund backed by bullion, dropped for the first time

Gold holdings in the SPDR Gold Trust, the biggest exchange-traded fund backed by bullion, dropped for the first time

Gold hovered near the $875 mark on Friday, pressured by strength in equities, while dealers took a drop from record holdings in the world’s largest gold-backed exchange-traded fund as a sign investor demand may be receding. Gold holdings in the SPDR Gold Trust, the biggest exchange-traded fund backed by bullion, dropped for the first time since April 3, according to figures on the company’s Web site. Gold is trading at $875 as of 9:30am, London Time. Gold’s Pool-Position is 88% Long, which means that most Finotec clients 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