Alan Williamson Remains Quotations

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 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.

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,

The activity in the bullion market remains very impressive, with aggressive buying of any dips and a dearth of selling in the rallies helping to create a bullish chart pattern of higher lows, and higher highs, thereby attracting more momentum-based fund buying.

The sharp price falls have seen the beginnings of some bargain hunting by consumers and investors, although whether this will be enough to turn the markets higher remains to be seen.

Buying the dips remains the most profitable mantra in the markets at the moment.