by Geoffroy Buffetrille
This week, clients have been net buying gold whilst net selling silver, platinum, and palladium.
GoldMoney’s clients have favoured Hong Kong and Singapore vaults this week with less preference being shown for the London and Swiss vaults. This is fairly typical with gold as, when the price retreats, our Asian-based clients tend to take advantage of a price discount to accumulate more metal.
Geoffroy Buffetrille, Dealing Manager at GoldMoney also added that, while GoldMan Sachs has closed its “Short Gold” Recommendation with 4.5% Loss, JP Morgan sees 1,400 USD as a new target.