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.

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