Alan Williamson
Alan Williamson
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.
bullish considered factors gold risks
With many of the factors that were considered bullish for gold still in place, the risks for gold are weighted to the upside.
certainly drift further gold ignoring lower market oil price recent remains sentiment strength towards
Certainly sentiment towards gold now remains positive, with the market ignoring the further drift lower in the oil price and the recent strength in the dollar,
although bear further gold looks ruled sentiment swift towards trap turned
Sentiment towards gold has now turned markedly more bearish and further long liquidation looks likely, although the deterioration in sentiment has been so swift that a bear trap can not be ruled out.
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.
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.
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.
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.
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.
although bargain beginnings consumers falls higher hunting markets price remains seen sharp turn whether
The sharp price falls have seen the beginnings of some bargain hunting by consumers and investors, although whether this will be enough to turn the markets higher remains to be seen.
broad continued enthusiasm industry investors key platinum prices reflects strength tight
The strength in platinum prices reflects two key factors: the broad enthusiasm for commodities by investors and speculators, and the continued tight industry fundamentals.
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.