Gold News

Gold is trading at $1058 as of 21:55PM, London Time. Gold’s Pool-Position is 97% Long, meaning that Most Finotec clients are buying the precious metal.

Gold still up but halts as the dollar stabilizes

Gold is trading at $1058 as of 21:55PM, London Time. Gold’s Pool-Position is 97% Long, meaning that Most Finotec clients are buying the precious metal.

Gold edged up near last week’s record high on Monday but the dollar’s rebound as well as worries about falling jewellery demand in main consumer India was seen likely to limit gains. Gold gained nearly 5 percent last week as dollar weakness pushed gold to a series of record highs. Bullion, which attracts safe-haven buying in times of uncertainties, had its best weekly performance in nearly half a year. The dollar, which was under relentless pressure last week,held above recent 14-month lows against a basket of currencies. Gold is trading at $1058 as of 21:55PM, London Time. Gold’s Pool-Position is 97% Long, meaning that Most Finotec clients are buying the precious metal.