Gold News

results of the U.S. government’s bank “stress tests” that will provide a gauge of the health of financial institutions

Gold steady ahead of stress tests as investors wait on the verdict

results of the U.S. government’s bank “stress tests” that will provide a gauge of the health of financial institutions

Gold was mostly unchanged on Thursday, holding around $910 ahead of the formal release of the results of the U.S. government’s bank “stress tests” that will provide a gauge of the health of financial institutions. Bullion rose on Wednesday as news reports of the test results trickled out, some of which underscored lingering uncertainties about banks helping to bolster bullion’s appeal as a safe-haven asset. The “stress tests”, which will help show whether financial institutions can weather a deep recession, will be released on Thursday at 5 p.m. EDT (2100 GMT). Gold is trading at $914 as of 9:20am, London Time. Gold’s Pool-Position is 10% Long, meaning that most Finotec traders are selling the precious metal.