John Read
John Read
although believe both firm lower metals near platinum profit stage suspect taking term three towards
We believe that new-year allocations towards commodities will keep platinum and palladium firm in the near term and see platinum at $1,100/oz and palladium at $300/oz over one month, although we suspect that profit taking will set in at some stage and see both metals lower to $1,050/oz and $270/oz in three months.
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.
cricket evolving situation tells wales whatever
It is an evolving situation and we will do whatever the ECB (England and Wales Cricket Board) tells us.
cannot dollar factor gold happening people realized simply trade
People have realized that the dollar is important for gold but it's not the only factor and you cannot slavishly trade gold just simply because of what's happening to the dollar.
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.
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.
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.
extra next played win
We were going down and Duncan killed the first extra end and we played the next one and managed to win it.
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.
almost correction few gold inevitable months past point rally rapid
After the rapid rally in gold over the past few months a correction is almost inevitable at some point and this could be it.
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.
board decision intention management moment responsibility stand stress ultimate
The thing to stress is that the ultimate decision will be the responsibility of the management board and no decision has yet been made. As things stand at the moment it is our intention to go.
higher rand remains risk
The risk remains that the rand will be at the higher end of people's forecasts.