John Read
John Read
continue gold manner near positive strength suspect
Gold has started 2006 in a positive manner and we suspect that this strength will continue in the near term.
appear believe bullish found gold metals precious recent soon support turn
Gold and the other precious metals appear to have found support after the recent sell-off, however, we believe it is too soon to turn bullish on gold specifically.
although appears approval driven gain possible proposed rally recent seen soon
Silver's recent rally appears to have been driven by intensifying speculation that the proposed ETF will soon gain approval from the SEC, although we have seen no indications on the possible timing.
ahead expected fund launch silver
Silver is benefiting from pre-positioning ahead of the expected launch of an exchange-traded fund in silver.
board decision intention management moment responsibility stand stress ultimate
The thing to stress is that the ultimate decision will be the responsibility of the management board and no decision has yet been made. As things stand at the moment it is our intention to go.
higher rand remains risk
The risk remains that the rand will be at the higher end of people's forecasts.
move point question
I don't think there's any question about that. At some point you move on.
base demand emerges form fresh gold level metal physical support
The level at which physical demand emerges to support the metal will then form a base for gold to make fresh gains.
either extremely gold market ounce seems spot time today trade unlikely
It seems extremely unlikely that gold doesn't trade $600 an ounce in the spot market at some time either today or this week.
cannot dollar factor gold happening people realized simply trade
People have realized that the dollar is important for gold but it's not the only factor and you cannot slavishly trade gold just simply because of what's happening to the dollar.
believe gold investment market physical point rising strength though trend vitally
We believe the strength of the physical market is vitally important for 2006; even though gold is rising on speculative and investment buying, at some point there will be a reversal of this trend and gold will correct.
believe break bring bullish correction extremes gold needed recent suspect
We do not believe that this correction is over and suspect that gold will now consolidate between recent extremes of $545 and $568, with a break of $575 needed to bring back bullish sentiment.
above basis demand prices recognize supply
We recognize that prices are above what is justifiable on the basis of supply and demand fundamentals.
almost believe demand driven entirely fallen gold investment jewelry recent run
I do believe that the recent run up in gold has been almost entirely driven by speculative and investment demand as jewelry demand has fallen sharply.