John Read
John Read
attempting believe confine extremes gold likely metal range recent
We believe that gold is attempting to find a range with the recent extremes of $535 and $555 likely to confine the metal for a while.
catalyst fresh gold recent return search
Gold is in search of a fresh catalyst to return it to recent highs.
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.
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.
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.
cricket evolving situation tells wales whatever
It is an evolving situation and we will do whatever the ECB (England and Wales Cricket Board) tells us.
additional buying compared derivative gold metal risk taken
I would say that when buying gold shares, additional risk is taken on compared to buying the metal or a derivative thereon.
above believe buying fair justified metals precious stop trading weight
We believe that all precious metals are trading above fundamentally justified fair value, but the weight of investor, speculator and commodity-index buying has demonstrated that this does not stop metals trading ever-higher.
extra next played win
We were going down and Duncan killed the first extra end and we played the next one and managed to win it.
demand gold investment level money physical support underlying until
We need to find the level at which underlying physical demand will support gold. Until then, I wouldn't be comfortable with gold up here, because it's all investment and speculative money at the moment.
base gold improving needed period prices rallying silver strong
We had a period of needed consolidation in gold ... with rallying base metals, strong silver prices and improving momentum, we can probably go higher.
although believe both firm lower metals near platinum profit stage suspect taking term three towards
We believe that new-year allocations towards commodities will keep platinum and palladium firm in the near term and see platinum at $1,100/oz and palladium at $300/oz over one month, although we suspect that profit taking will set in at some stage and see both metals lower to $1,050/oz and $270/oz in three months.
believe china gold increase interpret investors likely market positive raise
We believe that investors are likely to interpret this ... as being positive for the gold market as it will raise speculation that China will increase its gold holdings.