Gold News

Gold hold above $940 as the Dollar declines on risk

Gold hold above $940 as the Dollar declines on risk

Gold is trading at $944 as of 9:50am, London Time. Gold’s Pool-position is 80% Long meaning that most Finotec clients are buying the precious metal.

Gold was steady above $940 an ounce on Thursday, underpinned by light physical buying as investors eyed the currency market for clues on the precious metal’s direction. World gold demand fell 9 percent in the second quarter as rising prices and the impact of the global recession curbed jewellery consumption, a report by the World Gold Council, an industry-sponsored trade group, said on Wednesday. Gold is trading at $944 as of 9:50am, London Time. Gold’s Pool-position is 80% Long meaning that most Finotec clients are buying the precious metal.