Gold News

Gold drops slightly after the Dollar gains momentum and trader look to other as Gold’s Pool-Position is 36% Long meaning that most Finotec are Selling the precious metal.

Gold drops slightly after the Dollar gains momentum and trader look to other as Gold’s Pool-Position is 36% Long meaning that most Finotec are Selling the precious metal.

Gold was little changed, reversing earlier gains, as a rising U.S. currency reduced the appeal of raw materials priced in dollars. Gold rose earlier after U.S. stocks fell yesterday as consumer confidence trailed projections and companies posted worse than-expected results, fueling safe haven demand for the precious metal. Still, “with daily momentum rolling over, we look for further downside in the sessions ahead” toward the low of a range between $905 and $960, Barclays Capital said in a report yesterday. Gold is trading at $935 as of 9:27am, London Time. Gold’s Pool-Position is 36% Long meaning that most Finotec 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