Trading volumes in light of price falls
GoldMoney weekly market report and customer metrics
Trading volumes at online bullion dealer, GoldMoney, are up week on week, with buyers taking advantage of the current
price.
Kelly-Ann Kearsey, Dealing Manager, GoldMoney, said: ‘Improved economic figures and more hopeful rhetoric coming from
the Greek bailout talks, have influenced precious metal safe haven motivations.’
Kelly-Ann adds: ‘Hopes of a settlement in Greek bailout talks took gold to three week lows and then US data today
showing that the number of people who filed for unemployment assistance in the US fell more than expected, took it to
five week lows.’
This time last year, gold was trading around the $1,254 level, compared to today’s $1,175.06 but, Kelly-Ann says it is
Platinum which has been the biggest loser overall: ‘We have seen platinum slip below its critical $1,100 level compared
to this time last year when it was trading around $1,432, and of course it has been below gold for quite some time now.
Last year we had the South African mine strikes underpinning prices and the Ukraine/Russia situation was also lending
support to gold prices. Now, even though the ceasefire appears to be faltering it does not appear to be boosting gold’s
safe haven appeal.’
‘The one metal which appears to have been relatively steady is Palladium, perhaps keeping interest on the back of good
auto market sales. Meanwhile, the only other constant, year-on- year, is the continued flow out of UK and Swiss vaults
to Singapore. Tomorrow, Friday, if the US employment report data is weak then that might put the breaks on gold’s
decline, but if figures are as expected or better we could see further slippage on price.’
Week on week price performances
04/06/15 16:00. Gold down 1.0% to $1,175.06, Silver off 2.6% to $16.19, Platinum down 1.7% to $1,093.65 and Palladium
down 3.7% at $752.35.
Ends
For further information or interviews please contact Gwyn Garfield-Bennett at Direct Input. Telephone 44 (0)1534 715411
or email gwyn@directinput.je
GoldMoney
GoldMoney is one of the world’s leading providers of physical gold, silver, platinum and palladium for private and
corporate customers, allowing users to buy precious metals online. The easy to use website makes investing in gold and
other precious metals accessible 24/7.
Through GoldMoney’s non-bank vault operators, physical precious metals can be stored worldwide, outside of the banking
system in the UK, Switzerland, Hong Kong, Singapore and Canada. GoldMoney partners with Brink’s, Loomis International
(formerly Via Mat), Malca-Amit, G4S and Rhenus Logistics. Storage fees are highly competitive and there is also the
option of having metal delivered.
GoldMoney currently has over 20,000 customers worldwide and holds over $1billion of precious metals in its partner
vaults.
GoldMoney is regulated by the Jersey Financial Services Commission and complies with Jersey's anti-money laundering laws
and regulations. GoldMoney has established industry-leading governance policies and procedures to protect customers'
assets with independent audit reporting every 3 months by two leading audit firms.
Further information:
Visit: Goldmoney.com
ENDS