Macquarie Research
Macquarie Research
ahead appear later looking market simply
It would appear that the market is simply looking ahead to the tightness looming for later in the year.
again assume driven lead market means physical price rises strongly suddenly unlikely
It is unlikely that the physical market will suddenly assume a lead role. This means that price rises will again be strongly driven by investors.
fact flows fund impact investment massively
The fact is we have massively underestimated the impact of investment fund flows into the sector.
course floating funds gold influenced maintain massive note positive potential prices strongly top towards view
Going into 2006, we maintain our positive view towards gold and note that prices have the potential to top $600/ounce in the course of this year, strongly influenced by the still massive funds floating around globally.