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.