Alan Williamson
Alan Williamson
clearly critical currency exchange gold outlook particular rate
Clearly the outlook for the currency markets, and in particular the U.S. dollar/euro exchange rate will be critical to the outlook for the gold market,
buying dips mantra markets profitable remains
Buying the dips remains the most profitable mantra in the markets at the moment.
external helped lacking market otherwise support
Geopolitical tensions have helped to support the price, but otherwise the market is lacking any external impetus.
above expect holding platinum quite track
It's quite encouraging to see that platinum is holding up above the $1,000/oz level. Where to from here? We expect it to track gold.
buying days few gold hardly last major price rally recent reflects slowing source surprising various
It may well be that the stalling in the gold price rally over the last few days reflects a slowing in inflows into the various exchange-traded funds. With the major source of gold buying drying up over recent days it is hardly surprising that the gold price rally has stalled.
continue direction happening lacks market seeing thin trading volumes
There is very little happening and we're seeing thin volumes today. The market lacks direction; it may continue trading sideways.
action bias continues early held hold market middle move price range rather recent since suggesting towards trading within
The market continues to hold in the middle of the $535-$575 range that has held since early January, with the most recent price action suggesting a bias towards a move higher, rather than lower, within this trading band.
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.
again base early gold helped market metals recovery sentiment surprised towards
Once again the gold market has surprised by its resilience. Sentiment towards gold was helped by an early recovery in the base metals markets.
aggressive anybody imagine position rest taking
I can't imagine anybody taking any aggressive position for the rest of today.
clear markets metals precious prices recent recovering trend
There has been little clear trend in precious metals prices in recent trading, with the markets recovering when they look the most bearish and stalling when they look the most bullish.