Gold News

Gold may decline as china’s woes indicate that the Dollar will strengthen

Gold may decline as china’s woes indicate that the Dollar will strengthen

Gold is trading at $944 as of 9:45am, London Time. Gold’s Pool-Position is 90% Long, meaning that most Finotec clients are buying the precious metal.

Gold may post its first decline in three days on speculation the economic recovery in China may slow, boosting the dollar and reducing investor demand for commodities including the precious metal. Bullion, which usually moves inversely to the dollar, was little changed as Asian stocks and oil fell on concern China may temper investment in industrial capacity, damping a recovery in global economies. Gold is trading at $944 as of 9:45am, London Time. Gold’s Pool-Position is 90% Long, meaning that most Finotec clients are buying the precious metal.