Dealing Desk: Precious Metals Spike on FOMC Statement

by Kelly-Ann Kearsey
Gold Money

This week, we saw an increase in client activity.

Many clients have been net selling the metals in order to take advantage of the price increases since last week. Simultaneously, many clients have been buying into gold possibly as a safe haven or ahead of the FOMC statement expecting their position to remain the same.

GoldMoney’s clients have favoured the Singapore and Switzerland vaults this week with less preference being shown for the London vault.

Kelly-Ann Kearsey, Dealing Manager at Goldmoney said that markets have been anticipating the FOMC meeting this week in which a statement was released on Wednesday evening (GMT).

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