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22 December 2010

Gold and Silver trade sideways in quiet pre holiday trade

Precious metals likely to stay subdued for rest of year as market moves to holiday mode

Gold, Silver and Platinum all traded in narrow ranges on Wednesday in the absence of news or economic data, as the market marked time in the run up to the Christmas and new year holiday. Many precious metals investors might feel they deserve a bit of an early holiday as 2010 has been a rewarding year for many on the long side of precious metals. Even with the traditional year end profit taking, all precious metals look set to book impressive gains.

2011 may look as promising if not more promising for Gold, Silver and Platinum, with no signs of early resolutions to sovereign debt, currency debasement, deficit spending and inflationary outlook. While most market participants have raised their price expectations for 2011, the a further financial crisis could enable Gold, Silver & Platinum sellers to name their price.

2011 will bring further improvements to our service, with more sources of precious metal being added to the site, as well as new European territories being added to give users with even more powerful tools to help them buy Gold, Silver and Platinum.

As for right here, right now, robust interest at as coin and bar bargain hunters watched for bargains.

Premiums for 1 Kilo Gold Bars were trading at a lower average premium of 8.07% over fix.

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