World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 

Silver back in the spotlight

Silver back in the spotlight

GoldMoney weekly market report and customer metrics

It has been silver’s turn to shine this week, as it was a clear buying favourite amongst GoldMoney’s customers. Dealing Manager at the online precious metals trader, Kelly-Ann Kearsey said, “Gold rallied to a one week high on Tuesday before slipping back again, but it’s treading water right now. Silver has been far more interesting and is coming from a relatively low price base.

“Gold’s furtunes were hit by a stronger dollar as a result of strong US jobs data. It has given hope to a more imminent rate rise in the US, despite warnings from the IMF that the US and UK should not be in a hurry to raise interest rates while potential repercussions from the Chinese economic slowdown play out.

“While, on the one hand, the Chinese downturn could boost gold’s safehaven appeal, the fact that China is the world’s largest consumer of the yellow metal may result in a reduction in demand.

“There has been the usual flow of metals from the west to the east, but the one new trend we saw last week, which has continued, is an increased interest in physical gold bullion delivery. We have also noticed plenty of customers funding their accounts so that they’re ready to purchase, which is positive. All in all though, it has been silver’s week with more people buying the industrial metal than its higher value yellow cousin.”

Week on week price performances

03/09/15 16:00. Gold up 0.1% to $1,124.16, Silver increased 2.5% to $14.68, Platinum gained 1.1% to $1007.50 and Palladium jumped 5% at $582.47. Gold/Silver ratio: 76

Ends


© Scoop Media

 
 
 
World Headlines

 


Save The Children: World Leaders Urged To Halt Escalating Hunger Crisis

A group of 120 non-governmental organisations has joined forces in an open letter calling on world leaders to do more to halt a devastating global hunger crisis as new analysis shows the number of people likely to be in need of humanitarian aid in 2022 could rise by 17%...More>>

WMO: Another La Niña Impacts Temperatures And Precipitation – But Not Climate Change
La Niña has developed for the second consecutive year and is expected to last into early 2022, influencing temperatures and precipitation. Despite the cooling influence of this naturally occurring climate phenomenon, temperatures in many parts of the world are expected to be above average because of the accumulated heat trapped in the atmosphere...
More>>


UN: Violations Of Palestinian Rights Puts Two-State Solution At Risk, Chief Warns
The situation in the Occupied Palestinian Territory, including East Jerusalem, continues to pose a significant challenge to international peace and security, United Nations Secretary-General, António Guterres, said on Monday... More>>


World Food Programme: Millions More In Need Of Food Assistance As A Direct Result Of Conflict In Northern Ethiopia

The number of people in need of humanitarian food assistance across northern Ethiopia has grown to an estimated 9.4 million as a direct result of ongoing conflict, the United Nations World Food Programme (WFP) announced today... More>>


Food: Three Billion People Cannot Afford A Healthy Diet

Approximately three billion people, almost 40 per cent of the world’s population, cannot afford a healthy diet and another one billion people would join their ranks should further unpredictable events reduce incomes by one-third, the UN food agency said, launching a new report on Tuesday... More>>

COP26: Enough Of ‘Treating Nature Like A Toilet’ – Guterres Brings Stark Call For Climate Action To Glasgow
As the World Leaders Summit opened on day two of COP26, UN chief António Guterres sent a stark message to the international community. “We are digging our own graves”, he said, referring to the addiction to fossil fuels which threatens to push humanity and the planet, to the brink, through unsustainable global heating... More>>

 
 
 
 
 
 
 
  • Pacific.Scoop
  • Cafe Pacific
  • PMC