Gold News

Gold is trading at $1021 as of 9:26am, London Time. Gold’s Pool-Position is 19% Long, meaning that most Finotec clients are Selling the precious metal.

Gold Climbs as the Dollar continues to drop and investor’s hedge

Gold is trading at $1021 as of 9:26am, London Time. Gold’s Pool-Position is 19% Long, meaning that most Finotec clients are Selling the precious metal.

Gold advanced, erasing an earlier decline, as signs of a recovering global economy spurred demand for precious metals as a hedge against rising inflation. “Yesterday’s higher-than-expected U.S. CPI numbers spurred further investment demand,” said Stefan Graber, an analyst with Credit Suisse Group in Singapore. “The move above the $1,000 mark is being warranted by the fundamentals” such as a weak dollar and inflation. “There’s no Asian demand at all because of higher prices,” Kate Harada, a senior trader with Mitsubishi Corp., said today from Tokyo. “The current rally in precious metals is purely speculative and technically driven.” Gold is trading at $1021 as of 9:26am, 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