Alan Williamson Quotations

Unless something happens in the Middle East or the dollar has a significant move, then I suspect that the next few days we are just going to see the market drifting.

Yesterday's sell-off has stopped the recent uptrend in its tracks, with the (gold) price now squarely back in the middle of the broader $535-$575 range that has held since the middle of January.

The fact of the matter is he is still not in compliance.

The outlook for platinum is fairly positive. The funds aggressively sold off positions toward the end of last year and could add positions in platinum again and take the metal over $1,000/oz.

Sentiment towards the precious metals complex remains overwhelmingly bullish, which is hardly surprising given the strength of the price action.

Sentiment towards the precious metals complex remains overwhelmingly bullish.

Sentiment towards gold has now turned markedly more bearish and further long liquidation looks likely, although the deterioration in sentiment has been so swift that a bear trap can not be ruled out.

Sentiment towards bullion remains overwhelmingly bullish and further short-term gains are likely. A move up towards the February 1983 high of $509 an ounce seems the obvious target.

Certainly sentiment towards gold now remains positive, with the market ignoring the further drift lower in the oil price and the recent strength in the dollar,

I can't imagine anybody taking any aggressive position for the rest of today.

Given the increased correlation between base and precious metals over recent months, any further weakening in base metal prices would be a distinct drag on gold.

Given the positive sentiment...it would hardly be surprising if the market does take heart from any dollar weakness even though it ignored the move higher.

Today, it's been very quiet all day - no real direction. I think it's going to remain sideways until someone hits it either way.

There is much risk on the upside than the downside due to net long positions. There's more on the go for platinum.

With many of the factors that were considered bullish for gold still in place, the risks for gold are weighted to the upside.

Gold lost some of its impetus with the release of lower than expected US trade figures and this prompted profit taking in gold. Earlier in the day gold's upside had also stalled.

Gold is pausing for breath now. Unless it comes back down and breaches the $562 level, then I think the uptrend is still intact.

Over recent months gold and equity prices have been positively correlated. This has particularly been the case in Japan, where investors have sought to lock in stock market gains by recycling funds into gold. With equity markets weakening, local investors sought to secure gains on gold and move into cash.

rise in inflationary pressures caused by higher energy prices.

The activity in the bullion market remains very impressive, with aggressive buying of any dips and a dearth of selling in the rallies helping to create a bullish chart pattern of higher lows, and higher highs, thereby attracting more momentum-based fund buying.

Wherever the numbers fall, they fall. I am hoping they fall in my direction. Seven votes brings to mind that every vote does count.

While sentiment is so strong, it would be foolish to fight the trend in prices.

There has been little clear trend in precious metals prices in recent trading, with the markets recovering when they look the most bearish and stalling when they look the most bullish.

What seems more likely is that the markets, having enjoyed an almost uninterrupted rally since last summer, have been looking for an excuse to take a breather and consolidate the gains.

The trade in the gold market is very, very thin, with gold off the lows and the highs of the day at $502/oz and $508/oz.

The sharp price falls have seen the beginnings of some bargain hunting by consumers and investors, although whether this will be enough to turn the markets higher remains to be seen.

The strength in platinum prices reflects two key factors: the broad enthusiasm for commodities by investors and speculators, and the continued tight industry fundamentals.

Precious metal prices remain firm, underpinned by ongoing tensions in the Middle East and continued speculative enthusiasm for commodities.

This is partly as a result of the belief that any dollar strength will be temporary,

There is very little happening and we're seeing thin volumes today. The market lacks direction; it may continue trading sideways.

It may well be that the stalling in the gold price rally over the last few days reflects a slowing in inflows into the various exchange-traded funds. With the major source of gold buying drying up over recent days it is hardly surprising that the gold price rally has stalled.

It's quite encouraging to see that platinum is holding up above the $1,000/oz level. Where to from here? We expect it to track gold.

Once again the gold market has surprised by its resilience. Sentiment towards gold was helped by an early recovery in the base metals markets.

If the market can absorb such a weight of selling, then just imagine what will happen if the funds begin to reinstate long positions.

Clearly the outlook for the currency markets, and in particular the U.S. dollar/euro exchange rate will be critical to the outlook for the gold market,

Buying the dips remains the most profitable mantra in the markets at the moment.

Geopolitical tensions have helped to support the price, but otherwise the market is lacking any external impetus.

The market continues to hold in the middle of the $535-$575 range that has held since early January, with the most recent price action suggesting a bias towards a move higher, rather than lower, within this trading band.

Although CFTC Commitments of Traders data showed a small fall in the total speculative long position, most holders seem to have been willing to stay with the market for the time being.