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12 November 2010

Precious Metals Correct as Investors Lock in Profits

Recent record breaking run for Gold, Silver and Platinum succumbs to profit taking.

Precious metals corrected sharply in London markets on Friday morning as investors moved to lock in profits after this weeks price moves.

At traffic remained strong as users watched for bargain bullion items to snap up at auction over the coming weekend.

At time of writing, Fixed price 1 ounce Gold bars in the US were trading at 14.04% over gold fix.

Fixed price 1 ounce Silver was trading significantly down at 35.4% premium over the silver fix.

Comparatively fewer items than usual are currently available as fixed price lots, with most listings appearing as auctions, as sellers try to take advantage of the strong buying activity in the market to push up premiums.

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