Gold falls as the dollar firms and investors sell the precious metal

Gold’s Pool-Position is 77% Long meaning that most Finotec clients are buying the precious metal

Gold’s Pool-Position is 77% Long meaning that most Finotec clients are buying the precious metal

Gold prices fell to around $1,070 amid caution on Thursday as investors awaited Friday’s U.S. jobs data that could further boost the greenback, which would undermine bullion’s appeal as a currency hedge. The dollar was firm on Thursday after climbing broadly the day before on improving U.S. jobs and industry data, while fears Portugal could be the next euro zone country to face a debt crisis lifted the greenback against the euro. Signs that the pace of job losses is slowing could ease pressure on the government as it seeks to regain momentum ahead of Friday’s more comprehensive nonfarm payrolls report, expected to show the economy added jobs last month. Gold is trading at $1,062 as of 21:20pm, GMT, with a bullish trend. Gold’s Pool-Position is 77% Long meaning that most Finotec clients are buying the precious metal.