Gold News

Gold is trading at $69.90 as of 22:08PM, London Time. Gold’s Pool-position is 83% Long, meaning that most Finotec clients are buying the precious metal.

Gold keeps hitting new highs as the Dollar weakens

Gold is trading at $69.90 as of 22:08PM, London Time. Gold’s Pool-position is 83% Long, meaning that most Finotec clients are buying the precious metal.

As the dollar’s dominance fades with the emergence of a multipolar world, gold may stand to gain the most of all assets thanks to unlikely quality neutrality. Gold plunged almost 20 percent in October 2008, taking a hit when investors dumped assets across the curve for cash as liquidity dried during the height of the credit crunch. But in comparison to other asset classes gold did well, with broader commodities and equities hitting multi-year lows in the unwinding of complex positions built over the past several years. Gold is trading at $69.90 as of 22:08PM, London Time. Gold’s Pool-position is 83% Long, meaning that most Finotec clients are buying the precious metal.