Gold News

Gold has risen about 2.6 percent this week, and traders said its upside was likely to become more limited

Gold continuing to gain as the dollar slumps and investors look for a safe haven

Gold has risen about 2.6 percent this week, and traders said its upside was likely to become more limited

Gold is set for a third weekly increase, as the dollar fell against the euro, boosting the appeal of the precious metal as an alternative investment. “Investor interest in gold was bolstered by the declines in international equity markets and the soft tone of the U.S. dollar,” David Moore, chief commodity strategist at Commonwealth Bank of Australia, said in an e-mail today. Gold has risen about 2.6 percent this week, and traders said its upside was likely to become more limited as current prices prompt investors to take profit while wary investors halt investment in gold-backed exchange-traded funds. Gold is trading at $951 as of 9:33am, London Time. Gold’s Pool-Position is 30% 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