Dealing Desk: FOMC Boosts Precious Metal Prices

by Kelly-Ann Kearsey
Gold Money

This week, clients have been net buying gold, silver, and palladium.

Wednesday’s FOMC release seemed to spark more buying acitivity from our clients as they took advantage of the lower pricing in advance of the FOMC statement. Clients have also been net selling their platinum positions to take advantage of the current platinum price which has risen to over USD1,030/oz this week.

GoldMoney’s clients have been in favour of the Hong Kong, Swiss, and Singapore vaults this week with more less preference being shown toward the London and Canadian vaults.

Kelly-Ann Kearsey, Dealing Manager at GoldMoney said that throughout the week the gold prices have been regaining their losses from last Friday, where a low of roughly $1,230/oz was seen. Silver has remained relatively stable to start the week, sitting at around USD17.00/oz.

Continue Reading at…