Gold News

Gold stable as the stock market bounces back and investors buy into high risk investors were cautious as another day of improved U.S. housing data could further dull the metal’s appeal

Gold stable as the stock market bounces back and investors buy into high risk investors were cautious as another day of improved U.S. housing data could further dull the metal’s appeal

Gold rose on Tuesday on light cash buying to around $920 per ounce, but investors were cautious as another day of improved U.S. housing data could further dull the metal’s appeal as a safe haven from volatility in other markets. On Monday gold hit a one-week low of $915.05 as U.S. stocks rallied after better-than-expected earnings results from the home improvement sector gave investors their latest reason to hope the worst of the recession was over. Gold is trading at $923 as of 9:32am, London Time. Gold’s Pool-position is 33% Long, meaning that most Finotec clients are selling the precious metal.