Yingxi Yu
Yingxi Yu
buying deficit driven expected looking past platinum prices six
Prices are being driven up by hedge funds, which are buying platinum because its fundamentals are looking good. Platinum has been in deficit for the past six years, and it's expected it will be in deficit this year.
looking people rally risky short strong technical trends
Technical trends are looking very strong and people find it very risky to go short right now. I think that's why the rally has been continuing.
continue near overall potential upside weakness
After yesterday's weakness there could be some consolidation in the near term, but overall we continue to see upside potential in this market.
buying explain investors price reasons trying
A lot of investors are just buying because the price is going up, then trying to find reasons to explain it.
adding backdrop dollar key supportive theme weak
A weak dollar has been the key supportive theme recently, while the surrounding geopolitical backdrop is adding to the support.
aggressive dip fund further looking people positive price quite remains selling sentiment strong supported
Any price dip has been quite well supported by fund buying, and aggressive selling has been discouraged. The positive sentiment remains very strong and people are looking for further price gains.
among community drive due early enthusiasm last late prices weaker year
The weaker (gold-dollar) correlation late last year and early this year was due to the overwhelming enthusiasm among the speculative community to drive prices higher.
decide demand driven evidence exit funds good lower physical prices primarily seen vulnerable
We have not seen evidence of good physical demand at lower levels. Prices have been primarily driven by funds and, therefore, are vulnerable to sell-offs, should funds decide to exit the market.
backed bank buying central continue determined dollar dynamics economic gold hopes largely led myriad next physical price scale soaring year
Price dynamics in gold next year will continue to be largely determined by speculative interest, backed by a myriad of justifications like inflationary risks, energy-price led economic slowdown, expectations of a US dollar correction, soaring physical demand, supply-side constraints, hopes of large scale central bank buying and so on.
direction general lack volatility
I think near-term volatility is going to persist. There is a general sense of lack of direction in the market.
exists high interest
Interest still exists even at such high prices.
confidence data encouraged extend fall fund giving interest latest net shows
The fund interest is still very strong, probably also encouraged by the latest CFTC data that shows a fall in the net length, giving speculators more confidence to extend their long positions.
asset gold holds potential prices push role value
This has the potential to push prices higher. Gold has always had a traditional role as an asset which holds its value in times of uncertainty.
appears downside factors further gains gold limited market pointing quite short
The downside appears quite limited at present...There are factors pointing to further gains in the gold market in the short term.