Investors this week have been trading larger amounts of metal in light of the up-trending gold and silver price channel.
Geoffroy Buffetrille, Dealing Manager at GoldMoney, says that gold rallied to a 3½ month high this week, as soft US data and concerns over deflationary pressure in China fueled expectations that the Fed will not raise interest rates this year, pressuring stocks and dollar.
This week, GoldMoney customers purchased slightly more gold than the previous week, favouring Singapore over the European vaults. The total amount of silver orders were slightly lower than last week, still favouring the Asian vaults. With the price trending upward on platinum, volumes of these metals have nearly doubled, and palladium volumes have increased five-fold.
Week on week price performances
15/10/15 16:00. Gold gain 3.5% to $1,185.20, Silver up 3.1% to $16.15, Platinum up 5.1% to $998.20 and Palladium nearly flat -0.1% to $704 Gold/Silver ratio: 73.5
NOTES TO EDITOR
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