Market Updates

Dealing Desk: Precious metal bears growl but don’t bite

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It's been a week for prowling bears on the precious metals markets, as good US economic data reaffirms the dollars strength and reduces gold's safe haven appeal. Online precious metals trader, GoldMoney has seen its customers selling gold, platinum and palladium this week, but there has been some net buying in silver according ...

Market Report: $1200 for gold underpinned by physical demand

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This week saw gold rally $15 to $1233 on Tuesday before sliding to $1207 yesterday morning, then rallying in the afternoon. Silver's moves tracked gold's, bottoming out at $17.30 yesterday at the London opening. This morning precious metals are firmer in pre-LBMA trade, reflecting some short-covering ahead of the weekend. The a ...

Dealing Desk: Precious metals lose their shine across the board

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It's been a week of selling across the precious metals this week with silver living up to its volatile reputation. For the previous two weeks GoldMoney customers had been buying silver, but this week they abandoned it according to Kelly-Ann Kearsey, Dealing Manager at the online precious metals trader, 'It's been a one way week ...

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 ...