While the gold and silver markets generally had a more neutral week after recent gains GoldMoney customers have been buying across the board in the busiest week's trading of the year.
Head of Dealing and Settlements at British based GoldMoney, Roland Khounlivong said: 'We saw net buy orders for all four metals which is the first time this year for such positive activity. We also saw a nearly 40% increase in gross traded volume, which is the busiest week so far this year. The gold inflows were mostly as a result of some large buys from High Net Worth Individuals while our buyer/seller ratio stayed completely neutral indicating smaller sell orders amid profit taking.
'As has been the recent trend, our eastern locations were the most popular with Brink's Singapore and Via Mat Hong Kong taking the largest inflows.
'Positive data from both China and the USA has helped improve the economic outlook and that's been reflected in the industrial precious metal gains for platinum and palladium.
'Tomorrow's Independence Day holiday in the USA has made the market quieter today and we're not expecting any big indicators for the next week.'
16:00 03/07/14: Week on week performance: Gold gained 0.4% to $1,320.40; Silver added 0.6% at $21.13; Platinum rose 2.4% to $1,501.90 while Palladium jumped 3.7% to $860.75.
NOTES TO EDITOR
For more information, and to arrange interviews, please call Gwyn Garfield-Bennett on 01534 715411, or email [email protected]
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 $1.4billion 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.
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