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GoldMoney sees biggest gold buying spree since last summer

Online precious metals trading platforms GoldMoney has experienced the biggest gold buying spree from its customers since last summer.

GoldMoney’s head of dealing Roland Khounlivong says: “This week the buyers have far outnumbered the sellers, as people came into the market to take advantage of the current prices amid the uncertainty of emerging market economic fears. Silver was popular all week until Thursday, while gold has definitely been the top choice all week.
 
“Interestingly 94 per cent of our net buy orders are being shipped to Hong Kong and Singapore vaults. This is a further reinforcement of the trend we have seen for some time with bullion flowing out of the western vaults to the east.
 
“The better than expected economic data which came out of the US has pulled the market down slightly, but we're expecting investors to take the next few weeks to decide if western economies are definitely heading in the right direction.”

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