Gold News

Gold is trading at $998 as of 11:32am, London. Gold’s Pool-Position is 29% Long, meaning that most Finotec clients are selling the precious metal.

Gold Falls as the Dollar strengthens on G20 comments

Gold is trading at $998 as of 11:32am, London. Gold’s Pool-Position is 29% Long, meaning that most Finotec clients are selling the precious metal.

Gold hovered near two-week lows on Friday as a rebound in the dollar dampened bullion’s appeal as a currency hedge while investors were becoming wary of speculative long positions building in futures. Some traders said that notably slow growth in gold-backed exchange-traded funds compared to the market’s rally to 18-month highs suggested investor demand may be peaking, while others expected slack jewellery demand from India, the world’s largest consumer of gold. Gold is trading at $998 as of 11:32am, London. Gold’s Pool-Position is 29% Long, meaning that most Finotec clients are selling the precious metal.