31 October 2010

Bullion buyers add Gold and Silver as prices consolidate

Gold and Silver sales stay strong as markets await QE2

Gold and Silver bullion buying activity remained strong at BullionSupermarket.com last week as consolidating precious metal prices await the arrival of QE2 in the United States for cues on future direction.

Whilst activity has not been as frenetic as in previous weeks when Gold and Silver was hitting new highs at the beginning of October, strong premiums have been under pinned by solid buying activity through the whole month, with interest in Gold out stripping interest in Silver by around 20%.

At time of writing,

Fixed price 1 ounce Gold bars in the US were trading at 14.1% over gold fix in the United States.

Fixed price 1 ounce Silver was trading at 56.2% over silver fix.


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