Gold News

The Dollar Index, a six-currency measure of the dollar’s value, climbed as much as 0.2 percent after jumping 2 percent in the previous two days

Gold falls slightly as the Dollar extends gains eroding gold’s demand

The Dollar Index, a six-currency measure of the dollar’s value, climbed as much as 0.2 percent after jumping 2 percent in the previous two days

Gold declined close to its lowest in two weeks as the dollar advanced for a third day, reducing the appeal of precious metals as an alternative investment. The Dollar Index, a six-currency measure of the dollar’s value, climbed as much as 0.2 percent after jumping 2 percent in the previous two days. Gold, which often moves in the opposite direction to the currency, slid as much as 0.4 percent today after losing 2.9 percent in the previous two sessions. Gold was also under pressure from the drop in ETF holdings and speculation the U.S. may support the partial sales of the International Monetary Fund’s reserves. Gold is trading at $954 as of 9:26am, London Time. Gold’s Poll-position is 47% Long, meaning that most Finotec clients are Selling the precious metal.