Gold News

U.S. gold futures for June delivery GCM9 were barely changed after settling at $914.90 on Friday on the COMEX

Gold falls as investors take on more risk after good data

U.S. gold futures for June delivery GCM9 were barely changed after settling at $914.90 on Friday on the COMEX

Gold eased on Monday, weighed down by a recovery in investor confidence, but losses were limited by the dollar’s decline to a four-month low.

The dollar index extended losses on Monday as investors, emboldened by a smaller-than-expected fall in U.S. jobs, diversified into other currencies. U.S. gold futures for June delivery GCM9 were barely changed after settling at $914.90 on Friday on the COMEX division of the New York Mercantile Exchange.

Adding to the emerging optimism about the global economy, the U.S. economy is expected to begin growing in the second half of this year, while the jobless rate is expected to peak in the first quarter of 2010, according to a survey of top forecasters released on Sunday. Gold is trading at $915 as of 9:20am, London Time. Gold’s Pool-Position is 18% Long, meaning that most Finotec traders are selling the precious metal.