Market Updates

Dealing Desk: Gold sell off continues but silver still attracts

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This week saw a continuation of last week's sell-off in gold as prices fell to an eight month low. GoldMoney customers sold the yellow metal, but Kelly-Ann Kearsey, Dealing Manager at the online precious metals trader, said, 'We saw a continued interest in silver. Our customers carried on where they left off last week and acros ...

Market Report: Another miserable week for PMs

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Gold and silver drifted lower over the course of the week, with a challenge to the $1200 level for gold becoming a distinct possibility. Silver is struggling to hold $18.50. Mainstream opinion has been negative for commodities generally, with a strong dollar undermining them. Brent crude, for example, is now well under $100. It ...

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 ...