Gold News

Gold is trading at $937 as of 11:09am, London Time. Gold’s Pool-Position is 41% Long, meaning that most Finotec clients are Selling the precious metal.

Gold rises as Chinese demand gains with their stocks

Gold is trading at $937 as of 11:09am, London Time. Gold’s Pool-Position is 41% Long, meaning that most Finotec clients are Selling the precious metal.

Gold rose in London, heading for a monthly gain, on speculation rallying equities in China will lead to increased demand for the precious metal. “Gold demand is rising in China,” said David Barclay, a commodities strategist at Standard Chartered Plc in London. “To the extent that the rise in the stock market represents more money in the system, that would be positive for gold.” Holdings in the SPDR Gold Trust, the biggest exchange- traded fund backed by gold, were unchanged yesterday at 1,072.87 tons, according to data compiled by Bloomberg. Gold is trading at $937 as of 11:09am, London Time. Gold’s Pool-Position is 41% Long, meaning that most Finotec clients are Selling the precious metal.