Gold News

Gold holdings in the SPDR Gold Trust, the biggest exchange- traded fund backed by bullion, were unchanged at a record 1,134.03 metric tons yesterday

Gold gains on a weak dollar as investors seek a safe haven

Gold holdings in the SPDR Gold Trust, the biggest exchange- traded fund backed by bullion, were unchanged at a record 1,134.03 metric tons yesterday

Gold advanced for a second day as dollar weakness increased the metal’s appeal as an alternative to U.S. currency-denominated assets. Bullion extended yesterday’s gain after the dollar dropped to the lowest since Dec. 18 against a basket of six major currencies. Gold holdings in the SPDR Gold Trust, the biggest exchange- traded fund backed by bullion, were unchanged at a record 1,134.03 metric tons yesterday. The fund’s holdings have increased 45 percent this year. Gold is trading at $985 as of 9:20am, London time. Gold’s Pool-Position is 51% Long, meaning just over half of Finotec traders are buying the precious metal.