Alan Williamson
Alan Williamson
base distinct drag further given increased metals precious prices recent
Given the increased correlation between base and precious metals over recent months, any further weakening in base metal prices would be a distinct drag on gold.
bullish february further gains high move obvious ounce remains seems sentiment towards
Sentiment towards bullion remains overwhelmingly bullish and further short-term gains are likely. A move up towards the February 1983 high of $509 an ounce seems the obvious target.
certainly drift further gold ignoring lower market oil price recent remains sentiment strength towards
Certainly sentiment towards gold now remains positive, with the market ignoring the further drift lower in the oil price and the recent strength in the dollar,
although data fall market seem small stay time total traders willing
Although CFTC Commitments of Traders data showed a small fall in the total speculative long position, most holders seem to have been willing to stay with the market for the time being.
complex metals precious remains sentiment towards
Sentiment towards the precious metals complex remains overwhelmingly bullish.
breath gold unless
Gold is pausing for breath now. Unless it comes back down and breaches the $562 level, then I think the uptrend is still intact.
activity aggressive attracting bullish buying chart create dearth dips fund helping higher market pattern remains selling thereby
The activity in the bullion market remains very impressive, with aggressive buying of any dips and a dearth of selling in the rallies helping to create a bullish chart pattern of higher lows, and higher highs, thereby attracting more momentum-based fund buying.
dollar given hardly heart ignored market move positive surprising though weakness
Given the positive sentiment...it would hardly be surprising if the market does take heart from any dollar weakness even though it ignored the move higher.
fight foolish sentiment trend
While sentiment is so strong, it would be foolish to fight the trend in prices.
brings direction fall hoping mind numbers seven votes wherever
Wherever the numbers fall, they fall. I am hoping they fall in my direction. Seven votes brings to mind that every vote does count.
broader gold held middle price range recent since stopped
Yesterday's sell-off has stopped the recent uptrend in its tracks, with the (gold) price now squarely back in the middle of the broader $535-$575 range that has held since the middle of January.
bullish considered factors gold risks
With many of the factors that were considered bullish for gold still in place, the risks for gold are weighted to the upside.
days dollar east few happens market middle next suspect unless
Unless something happens in the Middle East or the dollar has a significant move, then I suspect that the next few days we are just going to see the market drifting.
downside due net risk upside
There is much risk on the upside than the downside due to net long positions. There's more on the go for platinum.