9:07 AMUK gold price
Miners Affected By
Decrease In Price Of
An unexpected decrease in the gold price per gram has had a negative impact on mining activity. Recently, prices have been rising as economic activity has been becoming more stable. This has been particularly true in China as well as in UK gold price, even though there has been some uncertainty over when the Federal Reserve will see fit to put the interest rates up.
Analysts have explained that additional changes in the cost of bullion to come would fluctuate according to the FED chairwoman, Janet Yellen's, perception of the economy. FED policy in relation to the market value of precious metals has a huge influence on pricing and Yellen is at the forefront of the aforementioned policy. The same analysts have explained that the price of gold in particular is more than likely going to increase as data from the economy becomes more informed.
In other precious metal news, Autilla Ltd, the international precious metals marketplace has announced that their new electronic trading platform is now live. This new technology means that they are now able to provide all banks with a much more flexible trading system. It is believed that this new platform will make the process much more convenient and efficient. All wholesalers in the London Bullion Market Association will have access to the platform.
Autilla Ltd, the company behind the new platform, most commonly specialize in forward swap options for precious metals. They were motivated to create the new tool after US and European regulations were tightened to insist on more in depth reporting and increased transparency. Within the precious metals market there is a constant and serious need for reliability and it is hoped that this new tool will achieve just that whilst also saving customers time.
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