Gold News

Gold is trading at $1060 as of 22:03PM, London Time. Gold’s Pool-Position is 82% Long, meaning that most Finotec clients are buying the precious metal.

Gold gains as the Dollar slumps and the Euro goes above $1.50

Gold is trading at $1060 as of 22:03PM, London Time. Gold’s Pool-Position is 82% Long, meaning that most Finotec clients are buying the precious metal.

gold steadied above $1,050 per ounce on Wednesday after snapping back a day earlier from two days of gains on a recovery in the dollar, with investors looking to corporate earnings for a clue to direction. Gold is often seen as a hedge against a weakening dollar. A weaker dollar also makes gold and other commodities cheaper for holders of other currencies. It hit a record high above $1,070 last week. But physical buying by the jewellery sector has disappeared, putting a cap on further buying. Gold is trading at $1060 as of 22:03PM, London Time. Gold’s Pool-Position is 82% 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