Gold News

Gold is trading at $1017 as of 21:52PM, London Time. Gold’s Pool-Position is 23% Long, meaning that most Finotec clients are selling the precious metal.

Gold climbs as the Dollar slumps and traders hedge

Gold is trading at $1017 as of 21:52PM, London Time. Gold’s Pool-Position is 23% Long, meaning that most Finotec clients are selling the precious metal.

Gold futures touched the highest price in more than a week as the dollar weakened, boosting the appeal of the precious metal as an alternative investment. The greenback fell as much as 0.5 percent against a basket of six major currencies. Gold has gained 15 percent this year, while the dollar declined 5.7 percent. Holdings in the SPDR Gold Trust, the biggest exchange- traded fund backed by the metal, rose 1.22 metric tons to 1,096.55 tons as of Oct. 2, data on the company’s Web site shows. Gold is trading at $1017 as of 21:52PM, London Time. Gold’s Pool-Position is 23% 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