Gold News

Gold is trading at $931 as of 9:26am, London Time. Gold’s Pool-Position is 46% Long, meaning that most Finotec clients are Selling the precious metal.

Gold rises again is the Dollar weakens and traders look at the safe haven

Gold is trading at $931 as of 9:26am, London Time. Gold’s Pool-Position is 46% Long, meaning that most Finotec clients are Selling the precious metal.

Gold gained in Asia, reversing an earlier decline as the greenback ended a two day advance and regional stock markets rebounded. Holdings in the SPDR Gold Trust, the biggest exchange traded fund backed by bullion, decreased 10.38 metric tons to 1,072.87 tons yesterday, the lowest level since March 17, according to figures on the company’s Web site. “The fact that the market couldn’t hold on to $950-$960 levels suggests the market’s recent rally was not substantiated, given a lack of physical demand,” said Yuichi Ikemizu, Tokyo branch manager at Standard Bank Plc. Gold is trading at $931 as of 9:26am, London Time. Gold’s Pool-Position is 46% Long, meaning that most Finotec clients are Selling the precious metal.