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.

Derivative and forex trading broker Finotec is a division of leading real-time Internet trading company Finotec Trading Inc, which pioneered the world of online forex trading in 1998. After launching our revolutionary forex online trading platform in 2001, we continued to improve our services and now serve clients of all sizes in many locations worldwide, offering them real-time Internet trading not only in currencies, but also in options, commodities,... More