Gold News

Gold steady as investors await interest rate news from the ECB and BOE

Gold steady as investors await interest rate news from the ECB and BOE

Gold is trading at $966 as of 9:23am, London Time. Gold’s Pool-position is 39% Long, meaning that most Finotec clients are selling the precious metal.

Gold steadied on Thursday, drawing support from the dollar’s weakness against the euro and investor risk appetite that has helped boost assets across markets, but prices were capped as players grew wary of high price levels. Traders said investors may become cautious about pushing prices higher given the elevated market levels, as well as physical demand remaining weak and gold losing its appeal as a safe haven as sentiment about the economy improves. Gold is trading at $966 as of 9:23am, London Time. Gold’s Pool-position is 39% Long, meaning that most Finotec clients are selling the precious metal.