Gold News

Gold rises as the dollar tumbles on the first day of trading in 2010

Gold rises as the dollar tumbles on the first day of trading in 2010

Gold is trading at $1,119 as of 20:50pm, GMT, with a bullish trend. Gold’s Pool-Position is 72% Long meaning that most Finotec clients are buy the precious metal.

Gold prices traded narrowly around $1,095 an ounce on Monday, in cautious trade ahead of U.S. December employment data due later this week that could add to optimism about the economy. A strong reading would likely add to the view that economic growth will be robust this year. That could stir talk that the Federal Reserve might raise interest rates sooner than expected, which would likely strengthen the dollar but pressure gold. Gold rose 2.5 percent to a three-week high on Monday as caution ahead of key U.S. data due later this week put pressure on the dollar, and amid speculation inflation may rise this year. Gold is trading at $1,119 as of 20:50pm, GMT, with a bullish trend. Gold’s Pool-Position is 72% Long meaning that most Finotec clients are buy 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