Alan Williamson Time Quotations

While sentiment is so strong, it would be foolish to fight the trend in prices.

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,

Once again the gold market has surprised by its resilience. Sentiment towards gold was helped by an early recovery in the base metals markets.

Although CFTC Commitments of Traders data showed a small fall in the total speculative long position, most holders seem to have been willing to stay with the market for the time being.

Sentiment towards the precious metals complex remains overwhelmingly bullish, which is hardly surprising given the strength of the price action.

Sentiment towards the precious metals complex remains overwhelmingly bullish.

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.