42 ordspråk av Alan Williamson
Alan Williamson
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.
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There is much risk on the upside than the downside due to net long positions. There's more on the go for platinum.
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There is very little happening and we're seeing thin volumes today. The market lacks direction; it may continue trading sideways.
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This is partly as a result of the belief that any dollar strength will be temporary,
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This is partly as a result of the belief that any dollar strength will be temporary.
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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.
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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.
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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.
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Wherever the numbers fall, they fall. I am hoping they fall in my direction. Seven votes brings to mind that every vote does count.
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While sentiment is so strong, it would be foolish to fight the trend in prices.
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With many of the factors that were considered bullish for gold still in place, the risks for gold are weighted to the upside.
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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.
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