Gold News

Gold stays high on the agenda as stocks fall again and investors look for a safe

Gold stays high on the agenda as stocks fall again and investors look for a safe

Gold was little changed at $930.00 per ounce

Gold held tight near a six-week high on Monday as fears of rising prices kept up the metal’s allure as a hedge against inflation, though investment in gold-backed exchange-traded funds halted after a recent gain. Gold was little changed at $930.00 per ounce. Compared with New York’s notional close of $930.70 on Friday, when prices climbed to their highest level in six weeks after data showed U.S. core inflation in April rose more than expected. Gold is trading at $930 as of 9:45am, London Time. Gold’s Pool-position is 20% 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