Gold News

Gold is trading at $72.42 as of 9:38am, London Time. Gold’s Pool-Position is 79% Long, meaning that most Finotec clients are buying the precious metal.

Gold is steady and trading around the $950 level as traders await the Dollar

Gold is trading at $72.42 as of 9:38am, London Time. Gold’s Pool-Position is 79% Long, meaning that most Finotec clients are buying the precious metal.

Gold was steady above $950 an ounce on Monday, pausing after touching a one-week high near $960 the previous session, as light buying was encouraged by extended gains in oil and equities markets. But there was no strong follow-through buying as investors mostly sat on the sidelines before U.S. data on housing and consumer sentiment later this week. “Gold is being underpinned by buying from speculators, with the euro’s recovery above $1.43 and a rally in oil to the year-to-date high levels increasing their risk tolerance,” said Shuji Sugata, manager at Mitsubishi Corp Futures & Securities’ research team. Gold is trading at $72.42 as of 9:38am, London Time. Gold’s Pool-Position is 79% 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