Dealing Desk: Hawkish Tone Shakes Market

by Kelly-Ann Kearsey
Gold Money

This week, clients have been net buying in silver and palladium, whilst net selling gold and platinum.

Clients have been speculating the market and have been taking advantage of the price reduction as silver dipped below the psychological level of $17.00/oz

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

Kelly-Ann Kearsey, Dealing Manager at GoldMoney, said that all eyes were on the release of the US Federal Reserve minutes from the April meeting. Gold dropped more than 1% on Wednesday after the release, hitting a spot session low of $1,262.45/oz whilst the US dollar reached a three-week high.

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