Gold News

Gold is trading at $1090 as of 21:43pm, GMT with a bullish trend. Gold’s pool-position is 69% long, meaning that most Finotec clients are buying the precious metal.

Gold’s rise comes to a halt as investors await the direction on the dollar

Gold is trading at $1090 as of 21:43pm, GMT with a bullish trend. Gold’s pool-position is 69% long, meaning that most Finotec clients are buying the precious metal.

Gold inched lower on Thursday but remained within striking distance of the $1,100 level after hitting an all-time high for the second straight session on a weak dollar the previous day. News this week of India’s purchase of 200 tonnes of gold from the International Monetary Fund has also provided gold with upward momentum to rise back towards $1,100. The IMF’s transaction represents about half of a long-planned bullion sale, which now has the gold industry wondering who will be buying the remainder that is due to be sold. The dollar remains under pressure after falling on Wednesday after the U.S. Federal Reserve reiterated its commitment to keep interest rates low for an “extended period.” Gold is trading at $1090 as of 21:43pm, GMT with a bullish trend. Gold’s pool-position is 69% 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