Gold News

At moment, is currently steady around the $1,180 level, the buying attraction expected to continue.

central banks’ interest to increase holding of the precious metal

At moment, is currently steady around the $1,180 level, the buying attraction expected to continue.

Last week Dubai’s news of a plan to delay repayments emerged fears of a second round for a global economical crisis. This had a straight effect on commodities, with gold trading as low as $ 1,1360.80 right after the news were out.

According to traders in the market, clearer skies are seen regarding possible repercussions from Dubai.
In November, gold hit a record high trading around $ 1,195 per ounce, influenced by a weak dollar outlook.
At moment, is currently steady around the $1,180 level, the buying attraction expected to continue.

Spot gold maintains his $ 1,179.05 per ounce level.

The central banks’ interest to increase holding of the precious metal might be a sign that the gold long term uptrend still intact.

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