Alan Williamson
Alan Williamson
caused energy higher pressures rise
rise in inflationary pressures caused by higher energy prices.
dollar given hardly heart ignored market move positive surprising though weakness
Given the positive sentiment...it would hardly be surprising if the market does take heart from any dollar weakness even though it ignored the move higher.
either hits quiet remain sideways until
Today, it's been very quiet all day - no real direction. I think it's going to remain sideways until someone hits it either way.
downside due net risk upside
There is much risk on the upside than the downside due to net long positions. There's more on the go for platinum.
absorb begin funds happen imagine market weight
If the market can absorb such a weight of selling, then just imagine what will happen if the funds begin to reinstate long positions.
clearly critical currency exchange gold outlook particular rate
Clearly the outlook for the currency markets, and in particular the U.S. dollar/euro exchange rate will be critical to the outlook for the gold market,
again base early gold helped market metals recovery sentiment surprised towards
Once again the gold market has surprised by its resilience. Sentiment towards gold was helped by an early recovery in the base metals markets.
buying dips mantra markets profitable remains
Buying the dips remains the most profitable mantra in the markets at the moment.
external helped lacking market otherwise support
Geopolitical tensions have helped to support the price, but otherwise the market is lacking any external impetus.
although data fall market seem small stay time total traders willing
Although CFTC Commitments of Traders data showed a small fall in the total speculative long position, most holders seem to have been willing to stay with the market for the time being.
action bias continues early held hold market middle move price range rather recent since suggesting towards trading within
The market continues to hold in the middle of the $535-$575 range that has held since early January, with the most recent price action suggesting a bias towards a move higher, rather than lower, within this trading band.