John Read
John Read
although appears approval driven gain possible proposed rally recent seen soon
Silver's recent rally appears to have been driven by intensifying speculation that the proposed ETF will soon gain approval from the SEC, although we have seen no indications on the possible timing.
ahead expected fund launch silver
Silver is benefiting from pre-positioning ahead of the expected launch of an exchange-traded fund in silver.
clear committed gold higher investment money motivation seems
Of course, gold can go higher on investment and speculative demand, but there seems no clear motivation for new money to be committed to gold at this time.
above basis demand prices recognize supply
We recognize that prices are above what is justifiable on the basis of supply and demand fundamentals.
above believe buying fair justified metals precious stop trading weight
We believe that all precious metals are trading above fundamentally justified fair value, but the weight of investor, speculator and commodity-index buying has demonstrated that this does not stop metals trading ever-higher.
anniversary approach attack gold higher iraq looks move supported
Gold looks set to be supported and set to move higher as we approach the anniversary of the 9/11 attack on the U.S. and the expectations of an attack on Iraq intensify.
establish fresh gold itself looking market range trying
Gold is trying to establish itself in a range at the moment. The market is looking for fresh direction.
catalyst fresh gold recent return search
Gold is in search of a fresh catalyst to return it to recent highs.
continue gold manner near positive strength suspect
Gold has started 2006 in a positive manner and we suspect that this strength will continue in the near term.
appear believe bullish found gold metals precious recent soon support turn
Gold and the other precious metals appear to have found support after the recent sell-off, however, we believe it is too soon to turn bullish on gold specifically.
buying gold positive silver suspect technical
We suspect that technical buying of gold and silver on COMEX (New York) will be triggered by a positive announcement of the silver ETF.
above base based beyond capable consider demand events factors fair flows investment lifting metals past precious prices supply value
Base and precious metals are considerably above what we consider to be fair value - based on fundamental supply and demand factors - but events of the past two years have demonstrated that investment and speculative flows are very capable of lifting prices well beyond fundamental fair value.
additional buying compared derivative gold metal risk taken
I would say that when buying gold shares, additional risk is taken on compared to buying the metal or a derivative thereon.
almost believe demand driven entirely fallen gold investment jewelry recent run
I do believe that the recent run up in gold has been almost entirely driven by speculative and investment demand as jewelry demand has fallen sharply.