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.