Alan Williamson
Alan Williamson
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.
bullish february further gains high move obvious ounce remains seems sentiment towards
Sentiment towards bullion remains overwhelmingly bullish and further short-term gains are likely. A move up towards the February 1983 high of $509 an ounce seems the obvious target.
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.
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.
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.
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.
fact matter
The fact of the matter is he is still not in compliance.
caused energy higher pressures rise
rise in inflationary pressures caused by higher energy prices.
activity aggressive attracting bullish buying chart create dearth dips fund helping higher market pattern remains selling thereby
The activity in the bullion market remains very impressive, with aggressive buying of any dips and a dearth of selling in the rallies helping to create a bullish chart pattern of higher lows, and higher highs, thereby attracting more momentum-based fund buying.
brings direction fall hoping mind numbers seven votes wherever
Wherever the numbers fall, they fall. I am hoping they fall in my direction. Seven votes brings to mind that every vote does count.
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.
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.
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.