Gold News

Gold is trading at $1,055 as of 21:40PM, London Time. Gold’s Pool-Position is 94% Long, meaning that most Finotec clients are buying the precious metal.

Gold dips below $1,060 as the rebounds on higher stocks

Gold is trading at $1,055 as of 21:40PM, London Time. Gold’s Pool-Position is 94% Long, meaning that most Finotec clients are buying the precious metal.

Gold fell below $1,060 an ounce on Tuesday as the dollar rebounded from its weakest level in 14 months versus the euro. Gold’s recent movements were largely led by currency markets, as investors fretted over economic uncertainty after governments and central banks pumped massive liquidity to battle recession. “The gold market really comes down to where you think the dollar is going,” said Citigroup analyst David Thurtell. “We are still pretty bearish on the dollar, so that makes us favorable to gold.” Gold is trading at $1,055 as of 21:40PM, London Time. Gold’s Pool-Position is 94% Long, meaning that most Finotec clients are buying the precious metal.