GoldMoney customers find reasons to buy
GoldMoney weekly market report and customer metrics
GoldMoney customers have been bucking the general market trend and buying up the yellow metal this week.
Kelly-Ann Kearsey, Dealing Manager at the online precious metals dealer, says the trend came from a combination of
reasons, both in-house and external, ‘On Friday it was announced that BitGold Inc. is to acquire GoldMoney. To celebrate
the merger a promotion was launched for the long weekend. This incentivised customers who shared a very positive
response to the merger. This reaction, coupled with the below the psychological support level prices we have seen in the
last few days, has meant we have seen plenty of gold buying this week, while silver has been the loser.’
The week’s buying saw a continuation of the trend for gold to flow out of the UK and Switzerland and into the Singapore
vaults. Kelly-Ann also noted, ‘We have seen some interest in platinum and palladium this week, which weren’t on offer.
Perhaps the positive data coming out of the US has supported these more industrial metals. The better than expected
durable goods orders boosted the dollar and US economic recovery hopes. Meanwhile the Pending Home Sales figures out
today are also better than anticipated with a nine year high, but this appears to have ignited some inflationary fears
which weighed on the dollar and boosted gold’s inflation hedge attraction, bringing prices up from their earlier lows.’
Week on week price performances
28/05/15 16:00. Gold down 2.8% to $1,186.76, Silver off 4.4% to $16.62, Platinum dropped 3.9% to $1,112.00 and Palladium
up 0.6% at $781.50. Gold/Silver ratio: 71.41
ends