Gold News

Gold trading below $900 on stock market gains

Gold trading below $900 on stock market gains

Gold fell towards $890 per ounce on Thursday, coming under pressure from extended gains in equities markets

Gold fell towards $890 per ounce on Thursday, coming under pressure from extended gains in equities markets, but a fall in the dollar versus the euro limited losses. World stocks struck a four-month peak on Thursday, powered by gains in Asia, as investors took heart from a record drop in U.S. business inventories and surprisingly robust consumer spending. Profit-taking has since capped the precious metal, but a reversal in the dollar’s jump on safe-haven buying earlier this week is providing support, traders said. Gold is trading at $898 as of 9:20am, London Time. Gold’s Poll-Position is 58% Long, Meaning that just over half of 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