Given the renewed interest in commodities and positive sentiment in gold, price risks for the (platinum group metals) are still very much on the upside, in our view.
Given the overall positive sentiment and an apparent lack of interest to short the marker aggressively, we see further room on the upside.
Some (traders) are suffering risk-fatigue and are not inclined to respond to anything much beyond the grind of the weekly U.S. numbers and have little interest in the geopolitical context or the global context of the data.
Speculative activity will continue to dominate price movements, with fund interest based on justifications such as economic slowdown, inflationary concerns and hopes of Asian central bank buying and soaring physical demand.
There remains room for further upside this year, with fund interest continuing to be justified on...inflationary concerns, fears of economic slowdown, hopes of large Asian central bank buying.
This market continues to look very strong ... Enthusiasm among speculators is founded on its constructive fundamentals and general interest across commodities.