Market Updates

Market Report: Strong dollar as deflation bites

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Currency wars have intensified this week driving the US dollar sharply higher against the euro, yen and pound. Minor currencies are also deliberately devaluing against the world's reserve currency. According to Zerohedge, 21 central banks have cut interest rates since 1st January. The signal this sends out is that people everyw ...

Dealing Desk: Investors adopt wait-and-see approach after India decision

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The decision by the Indian government to drop an expected reduction in gold import duties has left the market for the yellow metal static this week. The government was widely expected to follow-up an election issue by dropping the high import duty – a move that would have had a significant impact on gold prices, given that In ...

Market Report: PMs steady, but watch the euro

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The US dollar eased this week when Janet Yellen of the Fed gave her semi-annual report on monetary policy to Congress. It was no surprise that Ms Yellen hinted at caution over interest rates due to external events, such as the outlook for the Eurozone and uncertainty over China, but overall she was careful to be non-committal.F ...

Dealing Desk: Prices rise but bullion investors go tactical

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Gold prices have risen this week before setting back to exactly the same price as they were this time last week. At GoldMoney, customers have been selling in a week that has seen their trading volumes fall by 45% on last week. Gold SalesChinese buyers coming back into the market after their week long Lunar holiday helped boost ...

Market Report: Mid-week sell-off

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In last Friday's Market Update I commented that it is easy for bullion banks with deep pockets to move markets and change sentiment. This week's trading in precious metals was a text-book example, with all precious metals falling sharply during New York trading on Tuesday, setting up gold for a test of the $1200 level the follo ...

Dealing Desk: Indian market to open up

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Uncertainty across the global markets led to a quiet week for precious metal trading but the prospect of a reduction in gold import duty in the key Indian market has led to renewed expectations. The Reserve Bank of India has proposed reducing the levels of duty on gold imports in a key reform that would reverse the previous gov ...