Gold News

Gold is trading at $1,015 as of 9:20am, London Time. Gold’s Pool-position is 19% Long, meaning that most Finotec clients are selling the precious metal.

Gold rises above $1,010 as the Dollar falls and investors hedge

Gold is trading at $1,015 as of 9:20am, London Time. Gold’s Pool-position is 19% Long, meaning that most Finotec clients are selling the precious metal.

Gold rose to hover around $1,010 on Wednesday as the dollar hit a one-year low against a basket of major currencies, boosting the metal’s appeal as an alternative investment. Growing optimism about the economy has prompted investors to sell the dollar and snap up riskier assets such as stocks and commodities, helping to lift gold above $1,000 an ounce last week. Federal Reserve Chairman Ben Bernanke said on Tuesday that the recession was likely over, while data supported hopes that a recovery from the worst downturn in decades was advancing. Gold is trading at $1,015 as of 9:20am, London Time. Gold’s Pool-position is 19% Long, meaning that most Finotec clients are selling 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