Alan Williamson Prices Quotations

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.

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.

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.

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.