Gold News

Gold’s Pool-Position is 53% Long, meaning that just over half of Finotec clients are buying the precious metal.

Gold steady as investors wait on the Dollar and anticipate its move

Gold’s Pool-Position is 53% Long, meaning that just over half of Finotec clients are buying the precious metal.

Gold was steady on Tuesday as investors continued to track moves in the dollar, with the metal remaining within striking distance of the key $1,000-an-ounce mark. A softer dollar typically boosts gold, both because bullion can be bought as an alternative to the U.S. currency and because its weakness makes dollar-priced commodities cheaper for non-U.S. buyers. Gold is trading at $971 as of 9:20am, London Time. Gold’s Pool-Position is 53% Long, meaning that just over half of Finotec clients are buying the precious metal.