Gold News

Gold prices were mostly flat on Wednesday as traders refrained from betting heavily in either direction. On Tuesday, gold was pulled both ways due to the dollar’s strength and inflation fears.

Gold prices unchanged as investors await on the dollar’s direction

Gold prices were mostly flat on Wednesday as traders refrained from betting heavily in either direction. On Tuesday, gold was pulled both ways due to the dollar’s strength and inflation fears. The stronger dollar pressured gold while that was countered by inflation fears ignited by an unexpected jump in producer prices and rallying oil prices. Fed Chairman Ben Bernanke, in a response to a lawmaker’s questions made public on Tuesday, said the U.S. economy is operating so far beneath its potential that inflation is unlikely to become a problem. Gold is trading at $1,136 as of 21:10pm, GMT, with a bearish trend. Gold’s Pool-position is 23% Long, meaning that most investors are selling the precious metal.

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