Alan Williamson
Alan Williamson
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,
case equity funds gains gold investors local lock market markets months move positively prices recent recycling secure sought stock
Over recent months gold and equity prices have been positively correlated. This has particularly been the case in Japan, where investors have sought to lock in stock market gains by recycling funds into gold. With equity markets weakening, local investors sought to secure gains on gold and move into cash.
caused energy higher pressures rise
rise in inflationary pressures caused by higher energy 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.
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.
fight foolish sentiment trend
While sentiment is so strong, it would be foolish to fight the trend in prices.
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.
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.
either hits quiet remain sideways until
Today, it's been very quiet all day - no real direction. I think it's going to remain sideways until someone hits it either way.
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.
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.
earlier expected figures gold impetus lost lower profit release taking trade upside
Gold lost some of its impetus with the release of lower than expected US trade figures and this prompted profit taking in gold. Earlier in the day gold's upside had also stalled.
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.
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.