Dealing Desk: GoldMoney sees silver in demandDec 4, 2014·Kelly-Ann Kearsey
Dealing Manager at the online bullion dealer, Kelly-Ann Kearsey said, 'The last seven days have seen net selling of gold and net buying of silver, continuing the trends that we saw last week.
Overall, we have seen buying and selling equaling each other out, and the long-term trend of selling out of the UK and Switzerland vaults whilst more purchasing in Singapore and Canada can be seen.
'Our volumes are up from last week, and silver has been the favourite over gold.'
Over the past seven days the pointers indicate more positive news across the Atlantic, with a strong dollar prevailing against other major currencies and strong indications from US manufacturing figures.
Last week's Swiss referendum ended with a vote against adding to the country's gold reserves, but the result had been forecast in pre-polling, and there was no major impact from the vote.
Over the next seven days we will be looking forward to the Consumer Price Index figures from China and also the US Retail sales which may give further indication to the strength of the US economy.'
16:00 04/12/14: Week on week performance: Gold rose 1.5% to $1,209.01; Silver gained 2% to $16.55; Platinum added 2.0% to $1,241.00 while Palladium dropped 0.3% to $802.53.
NOTES TO EDITOR
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GoldMoney is one of the world's leading providers of physical gold, silver, platinum and palladium for retail and corporate customers. Customers can trade and store precious metal online easily and securely, 24 hours a day.
GoldMoney currently has over 22,000 customers worldwide and holds $1.2billion of precious metals in its partner vaults.
GoldMoney has offices in Jersey and Hong Kong. It offers its customers storage facilities in Canada, Hong Kong, Singapore, Switzerland and the UK provided by the leading non-bank vault operators Brink's, Via Mat, Malca-Amit, G4S and Rhenus Logistics.
GoldMoney is regulated by the Jersey Financial Services Commission and complies with Jersey's anti-money laundering laws and regulations. GoldMoney has established industry-leading governance policies and procedures to protect customers' assets with independent audit reporting every 3 months by two leading audit firms.
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