Goldmoney Wealth clients have been selling both gold and platinum over the past fortnight, with buying taking place in silver and palladium.
“The U.S. dollar retreated from the 14-year high seen prior to the holidays, boosting the gold price from December’s 10-month lows by 5% to touch $1,178,” said Rachel Stonier, dealing manager at Goldmoney Wealth. “Buying in China has supported gold’s January rally, and we could see demand continue through the upcoming Chinese New Year.”
All precious metal prices increased over the past fortnight; palladium posted a double-digit gain of 12.5%, platinum gained 4.8%, silver increased by 4.8%, and gold jumped by 4.3%. The gold to silver ratio decreased to 70.84.
05/01/17 16:00 – Gold: $1,181.62; Silver: $16.68; Platinum: $972; Palladium: $742.81. Gold/Silver Ratio: 70.84.
NOTES TO EDITOR
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Goldmoney is one of the world’s leading providers of physical gold, silver, platinum and palladium for private and corporate customers, allowing users to buy precious metals online. The easy to use website makes investing in gold and other precious metals accessible 24/7.
Through Goldmoney’s non-bank vault operators, physical precious metals can be stored worldwide, outside of the banking system in the UK, Switzerland, Hong Kong, Singapore and Canada. Goldmoney partners with Brink’s, Loomis International (formerly Via Mat), Malca-Amit, G4S and Rhenus Logistics. Storage fees are highly competitive and there is also the option of having metal delivered.
Goldmoney currently has over 25,000 customers worldwide and holds over $1.6 billion of precious metals in its partner vaults.
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