Gold News

Gold trading above $900 an ounce as investor’s hedge

Gold trading above $900 an ounce as investor’s hedge

Prices were supported as physical demand from India, the world’s largest consumer, has picked up

Gold inched up on Friday, keeping gains above $900 after rallying the previous day, while holdings of the world’s biggest gold-backed exchange-traded fund dipped further away from a record high. Prices were supported as physical demand from India, the world’s largest consumer, has picked up ahead of the Akshaya Tritya festival on April 27, a time for gold buying. Gold is trading at $910 an ounce as of 11:15am, London Time. Gold’s Pool-Position is 60% Long, meaning that most of 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