Gold: an overview of the market situation

Market news

8 September 2014

Gold: an overview of the market situation

Gold fell after U.S. Commodity Futures Trading Commission data showed that the net-long position in gold declined 20%to 74,031 futures and options in the week ended Sept. 2, the lowest since June 17. Short holdings betting on a drop increased 44%.

Other data showed that holdings in the SPDR Gold Trust, the biggest ETP backed by bullion, fell 1.2% to 785.72 tons last week, the biggest drop since May 2.

Gold for December delivery fell to $1,252.80 an ounce (-0.66%) on the Comex in New York.

Foreign exchange market. American session: the Canadian dollar fell against the U.S. dollar despite the better-than-expected Canadian building permits

U.S. Stocks open: Dow 17,121.82 -15.54 -0.09%, Nasdaq 4,579.63 -3.27 -0.07%, S&P 2,006.19 -1.52 -0.08%

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