Gold News

Gold steady above $950 an ounce as the Dollar falls on risk appetite

Gold steady above $950 an ounce as the Dollar falls on risk appetite

Gains have also been capped by weak physical demand

Gold steadied above $950 per ounce on Tuesdayascaution returned after prices neared $960. Gold has mostly moved in a range of $945-$960 per ounce for the past week with strong technical resistance towards the $960 level, which was last touched on June 11. Gains have also been capped by weak physical demand. South Africa’s Chamber of Mines said on Monday it saw a good possibility of reaching a wage deal with workers in the gold and coal mining sectors, putting an end to week-long talks and strike threats. Gold is trading at $955 as of 9:27am, London Time. Gold’s Pool-Position is 03% Long, meaning that most Finotec clients are Selling the precious metal.