Market Report: Summer drift continues

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Gold drifted lower this week, with the price undermined by lack of interest on low volume and a slightly more hawkish tone in the FOMC minutes released on Wednesday. The chart below, of gold and open interest on Comex, shows how the price has declined while open interest has hardly budged from its historically low level. The ...

Dealing Desk: GoldMoney customers take advantage of the sell-off and buy

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This week saw profit taking and a sell-off across the precious metals' market, but for the customers of online trader, GoldMoney, it was seen as a chance to buy. Head of Dealing and Settlements, Roland Khounlivong said, 'With the dollar still strengthening and the economic figures coming out of the USA all backing up the upbeat ...

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 ...