Market Report: New silver fix procedure from today

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I shall come to this important event later in this market report; but first, our customary look at this week's trading. From Monday through Wednesday the gold price found firm support at the $1305 level before gaining a few bucks to $1313 by close of play last night. However, the underlying position is more positive than this l ...

Dealing Desk: Palladium’s the winner in another week of geo-political tension

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Although it's been relatively quiet due to the holiday season, palladium has been the winner this week, while for GoldMoney customers, silver has also outshone its glittering yellow cousin. Dealing Manager at the online precious metals trader, Kelly-Ann Kearsey, said: "Activity has been as you'd expect for this time of year, al ...

Market Report: Technically more sound

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Precious metals periodically suffer from coordinated bear raids as the commercial shorts try to level their books. That appeared to be the case in recent weeks when the gold price was sold down from $1345 to $1280 last Friday. WTI crude was also sold down through the psychologically important $100 level to under $98. The weaknes ...

Dealing Desk: Ukraine tension puts shine on gold as a safe haven

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Dealing Manager at the online precious metals trader, Kelly-Ann Kearsey, said that gold had been the best performer over the week. The week saw a buy/sell ratio of 1.The summer months tend to see a drop off in activity, but with geo-political tensions still high, there is still a fair amount of movement.Kelly-Ann said: "Gold wa ...

Market Report: Like watching paint dry…

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That was how it felt watching all markets this week until yesterday when they sprang into life. Gold fell from $1304 at the London opening last Monday to a low point of $1281 yesterday, down 1.8% on the week, while silver fell from $20.60 to $20.35, down only 1.2%. These moves were relatively small compared with action elsewhere ...

Dealing Desk: Sunshine makes for a quiet market amid UK selling

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It has been a quiet week among GoldMoney's 22,000 worldwide customers, with the summer holiday season kicking in. There has been a low level of profit taking across all metals, and Dealing Manager at the online precious metals trader, Kelly-Ann Kearsey said it has been the UK vaults which have seen the most outflow, 'Although o ...