Alan Williamson
Alan Williamson
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,
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.
fight foolish sentiment trend
While sentiment is so strong, it would be foolish to fight the trend in prices.
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.
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.
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.
belief dollar partly result strength
This is partly as a result of the belief that any dollar strength will be temporary,
gold highs lows market trade
The trade in the gold market is very, very thin, with gold off the lows and the highs of the day at $502/oz and $508/oz.
continued east enthusiasm metal middle ongoing precious prices remain
Precious metal prices remain firm, underpinned by ongoing tensions in the Middle East and continued speculative enthusiasm for commodities.
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.