30 June 2010

Gold, Silver and PGMs all hold firm after Equity Markets plunge again

Precious metals firm after panic, as global stock markets fall sharply

Global equity markets fell sharply amid concerns over European banks and the health of the global economy on Tuesday.

Previous sharp falls in stock markets have seen selling drag down Gold and Silver markets as investors rushed for cash to cover margin calls. However with the DOW, FTSE 100 & DAX down 2.65%, 3.10%, 3.33% respectively, precious metals fared better, particularly Gold, holding above $1,240 per troy ounce mark.

Interestingly, in the small physical market, previously absent BullionSupermarket.com users seemed to take this as sign of Bullions strength, as they flocked back to the site on Tuesday, with price comparisons for Gold up 112%.


Advertisement
Buy gold online - quickly, safely and at low prices