05 January 2011
Gold and Silver Price Decline, boosts interest
Gold and Silver Bullion heavy correction draws interest as bargain hunters circle again. Gold premiums vary between territories possibly indicating perceived bullion shortages in UK
Gold and Silver had a bad day yesterday. Gold fell back about 3%, with silver registering declines of almost 5% as the broad precious metals market succumbed to heavy profit taking ahead of key economic data due out this week in the US.
However, in a pattern we have seen so many times since BullionSupermarket.com has been running, traffic and price comparisons surged, as bargain hunters came looking for a good deal. Active click throughs jumped 20 percent as users searched the system.
Meanwhile, perceived shortages of metal within the UK market maintained significant premiums in Gold with asking premiums on 1 Ounce Gold Bars in the United Kingdom standing at an average of 26%. This is compared to the same 1 oz Gold Bars in the United States asking for just a 19% premium