Rise in interest for gold deliveries to customers’ homes

Rise in interest for gold deliveries to customers’ homes

GoldMoney weekly market report and customer metrics

As the global stock markets plummeted in reaction to China’s economic woes, online bullion dealer, GoldMoney, has reported a rise in interest from its customers for gold bars to be delivered to their homes.

GoldMoney Dealing Manager, Kelly-Ann Kearsey said, “While the gold price did hit a seven week high, it hasn’t reacted to the stock market swings as much as we might expect. However, it’s obvious that some people are concerned because this week we saw orders from the UK, US, and Canada for physical bullion bars to be delivered to customers’ homes.”

“We’ve had a busy week all round, with gold by far the most popular metal in busy buying activity, which is unusual for the holiday period. Silver has, to a lesser extent, also featured prominently on the buy lists, while the more industrial metals, platinum and palladium, have languished with some profit-taking on palladium.”

“Federal Reserve head, Janet Yellen’s comments about the rate rise not being imminent helped to depress the dollar a little and lift gold hopes, but today’s better than expected US GDP figures have quashed that effect somewhat. However, we are still seeing our customers actively buying as the uncertainty in global markets sends people towards the safe haven and wealth preserving qualities of gold.”

Week on week price performances

27/08/15 16:00. Gold down 2.3% to $1,123.11, Silver down 7.4% to $14.32, Platinum off 2.7% to $996.24 and Palladium down 9.8% at $554.97. Gold/Silver ratio: 78

Ends

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