Economy Risks Support Rising Gold

Daily Forex Fundamentals | Written by Finotec Group | Dec 02 09 09:54 GMT |

A weak dollar and the economic uncertainty supported the gold, which rose more than 1 percent, hitting a record high for the second straight day on Wednesday. Even though gold's take profit trend might continue supported by economy risks, traders still intend to be very cautious with every high record level registered. US gold futures for February delivery hit the record high of $1,216.90 an ounce, before trading at $1,215.90 – up 1.3 percent. Spot gold traded at a level of $ 1,214.05 an ounce at around 0621 GMT, soon after experiencing a rise to $ 1,216.90. Finotec Group Inc. http://www.finotec.com/ Disclaimer: FINOTEC Tradings Market Commentaries are provided for informational purposes only. The information contained within these reports is gathered from reputable news sources and not intended as investment advice. FINOTEC Trading assumes no responsibility or liability from gains or losses incurred by the information herein.