Dealing Desk: Silver glistens and gold slips

Feb 5, 2015·Kelly-Ann Kearsey

It was a quieter week for GoldMoney customers, with the online precious metal trader seeing net selling of gold, and more interest in buying silver, in line with the trend in recent weeks.

Dealing Manager Kelly-Ann Kearsey said, ‘There is uncertainty in the markets, which traditionally has bolstered gold as a safe haven investment. This week has seen data from the US and announcements in relation to the developments in Greece post-election, which has added a little more stability to the overall picture. At the moment, investors are looking to silver for an investment with a quicker turnaround, while gold remains the long-term choice, and we are seeing an overall impact from the changes in the crude oil price.’

Weekly dealing chart

Looking ahead

‘The figures that everyone is watching out for are in US payroll data,’ says Kelly-Ann. ‘These figures are a barometer for the strength of the economy, and with continuing speculation about the first interest rate hike in several years, it’s fair to say that there’s a significant level of interest. The other statistics over the next week regard US Retail Sales, again, that’s a significant indicator about the health and prospects of the US economy.

Week on week price performances: 5/02/15 16:00. Gold down 0.3% to $1,260.75, Silver fell 0.5% to $17.06, Platinum rose 2% to $1,1,236.50 and Palladium increased 1.5% to $784.98.


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