John Read
John Read
believe gold investment market physical point rising strength though trend vitally
We believe the strength of the physical market is vitally important for 2006; even though gold is rising on speculative and investment buying, at some point there will be a reversal of this trend and gold will correct.
believe break bring bullish correction extremes gold needed recent suspect
We do not believe that this correction is over and suspect that gold will now consolidate between recent extremes of $545 and $568, with a break of $575 needed to bring back bullish sentiment.
demand gold investment level money physical support underlying until
We need to find the level at which underlying physical demand will support gold. Until then, I wouldn't be comfortable with gold up here, because it's all investment and speculative money at the moment.
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.
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.
either extremely gold market ounce seems spot time today trade unlikely
It seems extremely unlikely that gold doesn't trade $600 an ounce in the spot market at some time either today or this week.
believe china gold increase interpret investors likely market positive raise
We believe that investors are likely to interpret this ... as being positive for the gold market as it will raise speculation that China will increase its gold holdings.
attempting believe confine extremes gold likely metal range recent
We believe that gold is attempting to find a range with the recent extremes of $535 and $555 likely to confine the metal for a while.
base gold improving needed period prices rallying silver strong
We had a period of needed consolidation in gold ... with rallying base metals, strong silver prices and improving momentum, we can probably go higher.
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.
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.