Gold News

Gold is trading at $1068 as of 22:41PM, London Time. Gold’s Pool-Position is 96% Long, meaning that most Finotec clients buying the precious metal.

Gold hits highs as the Dollar weakens and traders’ hedge

Gold is trading at $1068 as of 22:41PM, London Time. Gold’s Pool-Position is 96% Long, meaning that most Finotec clients buying the precious metal.

Gold prices hit a record high in choppy trade on Tuesday, and silver, platinum, palladium and rhodium rallied to multi-month peaks, as the dollar’s slide to its lowest level since August 2008 against the euro fueled buying of precious metals. Gold later retreated but stayed higher as the dollar clawed back some lost ground against the euro, but it held near $1,060 an ounce as fears lingered over the outlook for the U.S. currency. Currency and equity traders were awaiting the release of earnings results of key U.S. companies later in the week for clues to the future direction of trade. Gold is trading at $1068 as of 22:41PM, London Time. Gold’s Pool-Position is 96% Long, meaning that most Finotec clients buying the precious metal.