MARKET VOLATILITY: Due to potential market volatility all orders over the value of £10,000 will require a deposit of 10% if placed using bank transfer or cheque. Deposits will be taken by debit/credit card during the checkout process.

Open menu Close menu Menu
Open charts menu Close charts menu Charts

Call us: 0121 634 8060, 7 days, 7am - 10pm

Free Insured Next Day Delivery

Ounce Gram
Gold £1147.61 £36.897
Silver £13.510 £0.4344

Updated 18:46 19/10/19

£ $

Gold up 3% after massive price volatility


Duncan Richardson, News Editor
2 Dec 2014, 10:20 a.m.

Yesterday was a sensational day in both the gold and silver markets. Gold finished the trading day up 3.05% after one point trading as low as $1,140. From high to low the gold price swung 5.9% in one trading day its biggest price jump since September 2011.

The price was driven by a combination of heavy short covering and buy stop orders triggered in the futures, and bargain hunters in the cash market.

Silver as normal experienced even more volatility. Silver traded as low at $14.50 per ounce before surging to $16.80 per ounce. That’s an extraordinary 18% intraday move and one of the biggest daily swings on record. Previously major price swings have all been to the downside. From a technical prospective if the silver price can break through resistance at $16.78 it should indicate the start of a new bullish wave.

Gold is currently trading at £761.74 per ounce, silver £10.31 per ounce, platinum £776.48 per ounce and palladium £509.38 per ounce.

View original source at: goldsilverworlds.com

comments powered by Disqus