Alan Williamson
Alan Williamson
almost enjoyed excuse last likely looking rally seems since
What seems more likely is that the markets, having enjoyed an almost uninterrupted rally since last summer, have been looking for an excuse to take a breather and consolidate the gains.
clear markets metals precious prices recent recovering trend
There has been little clear trend in precious metals prices in recent trading, with the markets recovering when they look the most bearish and stalling when they look the most bullish.
fight foolish sentiment trend
While sentiment is so strong, it would be foolish to fight the trend in prices.
above expect holding platinum quite track
It's quite encouraging to see that platinum is holding up above the $1,000/oz level. Where to from here? We expect it to track gold.
buying days few gold hardly last major price rally recent reflects slowing source surprising various
It may well be that the stalling in the gold price rally over the last few days reflects a slowing in inflows into the various exchange-traded funds. With the major source of gold buying drying up over recent days it is hardly surprising that the gold price rally has stalled.
fact matter
The fact of the matter is he is still not in compliance.
add again fairly funds last metal outlook platinum positions sold toward year
The outlook for platinum is fairly positive. The funds aggressively sold off positions toward the end of last year and could add positions in platinum again and take the metal over $1,000/oz.
broader gold held middle price range recent since stopped
Yesterday's sell-off has stopped the recent uptrend in its tracks, with the (gold) price now squarely back in the middle of the broader $535-$575 range that has held since the middle of January.
days dollar east few happens market middle next suspect unless
Unless something happens in the Middle East or the dollar has a significant move, then I suspect that the next few days we are just going to see the market drifting.
case equity funds gains gold investors local lock market markets months move positively prices recent recycling secure sought stock
Over recent months gold and equity prices have been positively correlated. This has particularly been the case in Japan, where investors have sought to lock in stock market gains by recycling funds into gold. With equity markets weakening, local investors sought to secure gains on gold and move into cash.
continue direction happening lacks market seeing thin trading volumes
There is very little happening and we're seeing thin volumes today. The market lacks direction; it may continue trading sideways.
belief dollar partly result strength
This is partly as a result of the belief that any dollar strength will be temporary,
earlier expected figures gold impetus lost lower profit release taking trade upside
Gold lost some of its impetus with the release of lower than expected US trade figures and this prompted profit taking in gold. Earlier in the day gold's upside had also stalled.
breath gold unless
Gold is pausing for breath now. Unless it comes back down and breaches the $562 level, then I think the uptrend is still intact.