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.

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