Darren Heathcote
Darren Heathcote
bit momentum positive push
We're still in a bit of consolidation...I think everything is still pretty good, still positive for gold. It doesn't really have any momentum to push it down.
break duration looking sustain test
If we sustain this break for the duration of the day, then I think we will be looking to test $495 again.
bandwagon basically drive happy japan jumping people recent riding
There was a significant drive in Japan in recent weeks. People are very happy to be jumping on the bandwagon and basically riding the thing up.
momentum struggling
It's really struggling to find momentum to go back up again.
content continue invested metals people precious
Geopolitical tensions continue to keep people invested in gold. People are content to be long in precious metals than the dollar, or other investments.
dizzy given looking oil support
It's dizzy high, and we're looking at a very overbought market. We're looking for a correction. It has to come at some point. However, given where oil is, it may well give some support on the downside.
moment mood
At the moment the mood is still jubilant.
drivers either particular push
It doesn't look like we've got any particular drivers to push it either down or much higher.
funds looking might money opinion somewhat speculate spike
Obviously, the funds will be looking to speculate and make some money out of this. But I am still of the opinion that the spike might be somewhat short-lived.
normally silver
I just think silver is getting a little more speculation than it normally would.
happen london looks near targeting
Certainly, it looks like we are targeting $600 in the near term. It may happen in London overnight.
broken looks next target yesterday
There's some profit-taking now, but look at where we are. It's broken $520, the target we had yesterday ... looks like $525 is the next target.
bit lacking
At the moment, I think we're lacking a little bit of direction.
bit
We are still in an upward trend. The fundamentals are still in place but I think we are having a bit of a shake-out.