Market Updates

Market Report: Strong dollar undermines precious metals

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Precious metals have had to endure a week of gathering dollar strength, which is at least partly the result of problems specific to the euro, yen and sterling. The result is gold has fallen a further $30 over the week, and silver by about $0.70c. The first chart is of gold and open interest on Comex. Over the last two weeks t ...

Dealing Desk: Precious metals sell-off across the board

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With gold at a seven-month low the precious metals market saw selling across the board this week. Kelly-Ann Kearsey, Dealing Manager at the online precious metals trader, said, 'Our customers were profit taking this week with the buyer/seller ratio showing a slight favour towards the sellers. 'There was a continuation in the We ...

Market Report: Short-sellers driving prices

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Gold and silver had a bad week, with gold falling $25 to a low of $1262 by the Comex close yesterday, and silver by $0.50. This morning UK-time prices opened a little better on overnight physical demand, no doubt stimulated by those lower prices. The background to this poor performance was dollar strength relative to weak curren ...

Dealing Desk: As silver prices fall GoldMoney customers buy

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Whilst the overall market has been focusing on Palladium amid geopolitical tension, for a second week in a row customers at GoldMoney have been taking advantage of the falling silver price. Dealing Manager at the online precious metals trader, Kelly-Ann Kearsey, said, 'Rising geopolitical concerns around the Ukrainian and Russi ...

Market Report: Summer doldrums coming to an end

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The pattern of trading in precious metals changed for the better this week. After London's bank holiday on Monday, for the first time in a long time the market opened in London's pre-market with higher prices. This indicated Asian or Middle-Eastern physical demand was returning to the market. Predictably, prices drifted lower du ...

Dealing Desk: Palladium prices rise, but silver shines for GoldMoney customers

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Overall it has been palladium's week with prices rising to their highest level since February 2001. However for customers of GoldMoney, the online precious metals trader, it was silver that shone. GoldMoney Dealing Manager, Kelly-Ann Kearsey, said: 'Whilst our trading volumes have been slightly lower than last week, we've seen ...