Darren Heathcote
Darren Heathcote
again boost dollar extent follows halt next policy raise raising rates statement suffer
If the statement that follows suggests they may look to halt their policy of raising in moderation, to the extent that they're not going to raise rates again at the next meeting, then the dollar could suffer on the back of that and that would give a boost to gold.
again area building great lows move scope
I think the scope is great to move down to the lows of the $525 area before building again for another move up.
bandwagon basically drive happy japan jumping people recent riding
There was a significant drive in Japan in recent weeks. People are very happy to be jumping on the bandwagon and basically riding the thing up.
momentum struggling
It's really struggling to find momentum to go back up again.
dizzy given looking oil support
It's dizzy high, and we're looking at a very overbought market. We're looking for a correction. It has to come at some point. However, given where oil is, it may well give some support on the downside.
bit
We are still in an upward trend. The fundamentals are still in place but I think we are having a bit of a shake-out.
moment mood
At the moment the mood is still jubilant.
bit lacking
At the moment, I think we're lacking a little bit of direction.
broken looks next target yesterday
There's some profit-taking now, but look at where we are. It's broken $520, the target we had yesterday ... looks like $525 is the next target.
happen london looks near targeting
Certainly, it looks like we are targeting $600 in the near term. It may happen in London overnight.
people quiet
People will be eyeing $450 as the target. It may not be today. It will be very quiet in the States.
funds looking might money opinion somewhat speculate spike
Obviously, the funds will be looking to speculate and make some money out of this. But I am still of the opinion that the spike might be somewhat short-lived.
buying dips interest lack physical severe
There's a severe lack of interest in Asia. There was some physical buying on the dips down. That's started to dissipate.
buying continued definitely funds obviously
There's definitely more buying in gold, obviously on inflationary fears. The funds have continued to buy.