Alan Williamson Further Quotations

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,

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.