Gold May Advance as the Dollar Weakens, Investors Hedge

Source:

". . .the greenback fell to its lowest level in a week against the euro, increasing the metal's appeal as a hedge. . ."

Gold was little changed in London today and may advance as the greenback fell to its lowest level in a week against the euro, increasing the metal's appeal as a hedge against further weakness in the U.S. currency. Holdings in the SPDR Gold Trust, the biggest exchange-traded fund backed by the metal, were unchanged for a seventh day at 1,065.49 tons yesterday, data on the company's website show. Gold is trading at $942 as of 11:11am, London Time. Gold's Pool-Position is 84% Long, meaning that most Finotec clients are buying the precious metal.

Related Articles

Get Our Streetwise Reports Newsletter Free

A valid email address is required to subscribe