18 May 2010
Physical Gold Buying hesitates and then picks up as buyers take view $1200 plus gold is not a blip
Buying actitivity is squeezed by high prices but picks up as buyers get used to $1200 Gold
With the debt contagion worries not set to abate anytime soon, Gold made further gains last week on its reputation as a safe haven investment.
The steep price rises in Gold & Silver squeezed buyers last week as many opted to wait to see if the recent rally would retrace. But as $1200 Gold seemed to consolidate physical buyers started to return with sales significantly increasing for the number of price comparisons performed by BullionSupermarket.com which remained stable throught the week.
With Silver playing catch up a little last week silver buying was also up. Which boosted volatile premiums. On tuesday afternoon ever popular Silver 10 oz bars were priced at 24.43% over Silver fix and Silver 1 oz bars were changing hands at 44.88% over fix
Gold 1 oz bars were priced at 14.34% over London Gold fix, though supply of the popular bar were short.