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.