Gold News

Gold hovering around the $1000 mark as traders await U.S payrolls

Gold hovering around the $1000 mark as traders await U.S payrolls

Gold is trading at $1000 as of 11:30am, London Time. Gold’s Pool-position 84% Long, meaning that most Finotec clients are buying the precious metal.

Gold was steady on Friday, drawing little support from foreign exchange markets where the dollar was flat against a basket of currencies, with the market subdued ahead of key U.S. jobs data due later in the day. If non-farm payrolls come in weaker than the expected 180,000 job losses, it could renew fears about recovery in the world’s largest economy and bolster the dollar, seen as a safe haven. Gold is trading at $1000 as of 11:30am, London Time. Gold’s Pool-position 84% Long, meaning that most Finotec clients are buying the precious metal.