Dealing Desk: Volatile markets give clients incentive

Jon Economy, Fiscal Policies, Gold, Market Commentary, Precious Metals, Silver

This week has seen buying across most metals with silver being the buying favourite.
GoldMoney’s Singapore vaults remained the most popular this week, with UK, Swiss and Hong Kong vaults seeing the most selling.
Kelly-Ann Kearsey, Dealing Manager at GoldMoney, says we have seen a large drop in the prices across all the metals this week due to more positive US economic data, which has strengthened the US dollar, together with the Federal reserve news last week. In turn, our clients have responded by taking the opportunity of buying metal at prices lower in comparison to last week. This week, the market is watching Friday’s October employment report, as it may give encouragement to the Fed’s decision in December.
Gold remains weighed down by the recent US Federal Reserve statement, alongside positive US data which has halted gold’s upward momentum. The market pricing is now representative of a December rate hike and gold has reacted by decreasing by $40.

This post was published at GoldMoney on NOVEMBER 05, 2015.