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.
There is much risk on the upside than the downside due to net long positions. There's more on the go for platinum.
Buying the dips remains the most profitable mantra in the markets at the moment.
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.
The strength in platinum prices reflects two key factors: the broad enthusiasm for commodities by investors and speculators, and the continued tight industry fundamentals.
This is partly as a result of the belief that any dollar strength will be temporary,
The market continues to hold in the middle of the $535-$575 range that has held since early January, with the most recent price action suggesting a bias towards a move higher, rather than lower, within this trading band.
