Gold News

Gold is trading at $945 as of 9:23am, London Time. Gold’s Pool-Position is 81% Long, meaning that most Finotec clients are buying the precious metal.

Gold declines as the Dollar’s momentum hurts the precious metal

Gold is trading at $945 as of 9:23am, London Time. Gold’s Pool-Position is 81% Long, meaning that most Finotec clients are buying the precious metal.

Gold traded near the lowest this month on speculation that the dollar will continue to advance on data pointing to a recovery in the U.S. jobs market. Bullion touched $943.50 an ounce yesterday, the lowest level price since July 31, as the Dollar Index, a six-currency gauge of the greenback’s strength, extended a rebound from a 10- month low. The U.S. economy may have bottomed out on stimulus spending, Nobel Prize winner Paul Krugman said on Aug. 9. Data last week showed the pace of U.S. job losses slowed and the unemployment rate fell for first time in more than a year. Gold is trading at $945 as of 9:23am, London Time. Gold’s Pool-Position is 81% Long, meaning that most Finotec clients are buying the precious metal.