We believe the strength of the physical market is vitally important for 2006; even though gold is rising on speculative and investment buying, at some point there will be a reversal of this trend and gold will correct.
We do not believe that this correction is over and suspect that gold will now consolidate between recent extremes of $545 and $568, with a break of $575 needed to bring back bullish sentiment.
We expect that funds held 17-18 million ounces of gross long positions as of Tuesday. If the net long position is more than this then we will become even more bearish; only a release that shows that the net long positions declined from the 15 million ounces reported last week would make us positive about the short-term outlook for gold.
We had a period of needed consolidation in gold ... with rallying base metals, strong silver prices and improving momentum, we can probably go higher.
We had a very good run. You have a pullback and correction at some stage and we are in a process to do that at the moment.
We need to find the level at which underlying physical demand will support gold. Until then, I wouldn't be comfortable with gold up here, because it's all investment and speculative money at the moment.
We recognize that prices are above what is justifiable on the basis of supply and demand fundamentals.
We suspect that technical buying of gold and silver on COMEX (New York) will be triggered by a positive announcement of the silver ETF.
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Diese Website konzentriert sich auf Sprichwörter der schwedischen Sprache. Einige Teile einschließlich der Links sind nicht ins Deutsche übersetzt worden. Diese Links sind hauptsächlich FAQ, verschiedene Informationen und Webseiten, die der Erweiterung der Sammlung dienen.