Dealing Desk: Central Banks Give Precious Metals a Boost

by Kelly-Ann Kearsey
Gold Money

This week, clients have been net buying gold, silver, and platinum, speculating the market by taking advantage of the lower prices during the Fed Meeting on Tuesday and Wednesday.

Goldmoney Wealth’s clients have favoured the Swiss and Singapore vaults followed by the London vault this week, with less preference being shown for the Hong Kong and Canadian vaults.

Kelly-Ann Kearsey, Dealing Manager at Goldmoney Wealth said that this week gold and silver had been trading sideways, remaining within range as the markets awaited announcements from two of the largest central banks with regards to their monetary policies. On release of the Fed Statement from Wednesday evening (BST), gold jumped to a spot price high of $1,336.00/oz whereas silver also reached a spot high of 19.87/oz. Silver has then continued to increase throughout Thursday and could look to challenge the $20.00/oz level again.

Continue Reading at…