Dealing Desk: Precious Metals receive strong start to New Year
by Kelly-Ann Kearsey
Gold Money
Kelly-Ann Kearsey and Geoffroy Buffetrille, Dealing Managers at GoldMoney, say:
This week, clients have favoured the Eastern vaults with most selling being seen in Western vaults.
We have seen gold retain its stance this week as a safe-haven asset as there are continued tensions in the Middle East regarding oil exports and economic sanctions which could then affect the economy of the west. Alongside this is the fall in the Shanghai stock markets, which has highlighted worries about the strength of the Chinese economy.This has given added support to the metal, increasing the price to over USD1,100/oz despite the US Dollar Index also rising.
Market volatility remains high with the VIX index ranging between 16 and 24, giving the precious metals support in a stressful market.
Continue Reading at GoldMoney.com…
Source: http://financialsurvivalnetwork.com/2016/01/dealing-desk-precious-metals-receive-strong-start-to-new-year/?utm_source=rss&utm_medium=rss&utm_campaign=dealing-desk-precious-metals-receive-strong-start-to-new-year
