Alan Williamson
Alan Williamson
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.
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.
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.
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,
base distinct drag further given increased metals precious prices recent
Given the increased correlation between base and precious metals over recent months, any further weakening in base metal prices would be a distinct drag on gold.
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.
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.