Alan Williamson
Alan Williamson
downside due net risk upside
There is much risk on the upside than the downside due to net long positions. There's more on the go for platinum.
days dollar east few happens market middle next suspect unless
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.
action complex given hardly metals precious price remains sentiment strength surprising towards
Sentiment towards the precious metals complex remains overwhelmingly bullish, which is hardly surprising given the strength of the price action.
complex metals precious remains sentiment towards
Sentiment towards the precious metals complex remains overwhelmingly bullish.
although bear further gold looks ruled sentiment swift towards trap turned
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.
bullish february further gains high move obvious ounce remains seems sentiment towards
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.
case equity funds gains gold investors local lock market markets months move positively prices recent recycling secure sought stock
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.
broader gold held middle price range recent since stopped
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.
fact matter
The fact of the matter is he is still not in compliance.
add again fairly funds last metal outlook platinum positions sold toward year
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.
clear markets metals precious prices recent recovering trend
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.
fight foolish sentiment trend
While sentiment is so strong, it would be foolish to fight the trend in prices.
again base early gold helped market metals recovery sentiment surprised towards
Once again the gold market has surprised by its resilience. Sentiment towards gold was helped by an early recovery in the base metals markets.
almost enjoyed excuse last likely looking rally seems since
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.