Yingxi Yu
Yingxi Yu
across days dollar few fresh holding impetus past positions sentiment weakness
There is no market-specific impetus for fresh long positions to be established at present. Sentiment has been weakened by weakness across commodities over the past few days and the dollar is holding up well.
broader further likely prices remain rule volatile weakness
We will not rule out the possibility of further weakness and prices are likely to remain volatile in a broader range.
appears downside further generally market near potential pressure supported unlikely violent weakness
We see potential for further downside pressure over the near term, but the market generally appears well supported at the moment. So any weakness is unlikely to be very violent or major.
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.
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.
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.
cannot conditions days few likely market nervous next quite remain ruled weakness
The market conditions are likely to remain quite nervous over the next few days and near-term weakness in the TOCOM market cannot be ruled out.
continue overall potential upside
Overall we continue to see upside potential in this market.
below group metals platinum recent remain
The platinum group metals remain well below their recent peaks.
either expect fresh gold lack mood move near remain trigger
With a lack of fresh catalysts to trigger a significant move in either direction, we expect gold to remain in its consolidation mood over the near term.
base believe built either fund interest investors leaving moves price silver vulnerable
We believe that the fund interest in silver is built upon a much narrower base of investors than gold, leaving it more vulnerable to big price moves in either direction.
continue critically decide hinges investors rally stay whether
Whether or not the rally can continue hinges critically on how long investors decide to stay in the market.
above against environment gold good high oil remain support today trade
Gold is probably going to remain in a range-bound trade today and should find good support above $565 against an environment of high oil prices.
ahead conditions expect holiday market mood price remain spark thin though trading weekend
We expect the market to remain in consolidation mood for now, though thin trading conditions ahead of the long holiday weekend could well spark big price movements.