Gold News

The dollar slumped to a four-month low against a basket of currencies on Wednesday

Gold up on safe haven buying by investors as the economy slumps

The dollar slumped to a four-month low against a basket of currencies on Wednesday

Gold extended gains to above $925 on Wednesday, as investors focused on the dollar’s weakness, boosting its appeal as an alternative to the greenback, but resurgence in risk appetite may limit bullion’s gain. The dollar slumped to a four-month low against a basket of currencies on Wednesday and faces renewed selling amid a recovery in risk appetite that has curbed safe-having buying. Gold is trading at $925 as of 9:25am, London Time. Gold’s Pool-position is 9% Long, meaning that most Finotec clients are Selling the precious metal.