Dealing Desk: 3.5 month high for gold

Investors this week have been trading larger amounts of metal in light of the up-trending gold and silver price channel.

Geoffroy Buffetrille, Dealing Manager at GoldMoney, says that gold rallied to a 3½ month high this week, as soft US data and concerns over deflationary pressure in China fueled expectations that the Fed will not raise interest rates this year, pressuring stocks and dollar.

This week, GoldMoney customers purchased slightly more gold than the previous week, favouring Singapore over the European vaults. The total amount of silver orders were slightly lower than last week, still favouring the Asian vaults. With the price trending upward on platinum, volumes of these metals have nearly doubled, and palladium volumes have increased five-fold.

Week on week price performances
15/10/15 16:00. Gold gain 3.5% to $1,185.20, Silver up 3.1% to $16.15, Platinum up 5.1% to $998.20 and Palladium nearly flat -0.1% to $704 Gold/Silver ratio: 73.5


NOTES TO EDITOR
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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.

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