Gold News

Gold is trading at $1030 as of 21:33PM, GMT. Gold’s Pool-Position is 82% Long, meaning that most Finotec are buying the precious metal.

Gold steady at $1040 as traders decide on the dollar

Gold is trading at $1030 as of 21:33PM, GMT. Gold’s Pool-Position is 82% Long, meaning that most Finotec are buying the precious metal.

Gold prices steadied around $1,040 an ounce on Wednesday, staying above three-week lows hit the day before when the dollar strengthened against the euro. The dollar held gains against a basket of currencies on Wednesday while the yen rose, as investors trimmed positions in higher yielding currencies as stocks fell on weaker-than-expected U.S. consumer confidence figures. Traders and analysts said that given the rapid rise in gold prices, a pause in its rally was sensible, but the expected continuation of dollar weakness will also likely offer firm support around $1,000. Gold is trading at $1030 as of 21:33PM, GMT. Gold’s Pool-Position is 82% Long, meaning that most Finotec 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