Stephen Briggs Metals Quotations

Remorseless buying of precious metals by investors has pushed prices higher. Quietly behind in the background is dollar weakness.

You are not getting much direction from oil because it is ... not showing much of a trend. People are a bit uncertain and the base metals are probably not helping ... Gold seems to be struggling to get back above $555 - the halfway point between the high and the low.

The investors have plenty more ammunition to throw at it. The underlying interest in metals generally, and gold in particular, is still so great that you have to suspect that you are going to challenge the highs again which is $10 away.

Clearly the dollar weakness is a big factor, not just for gold but for the other metals as well.

The underlying attitude towards metals in general and gold in particular is still positive. The bias still has to be to the upside, but people are reminded that this isn't a one-way street.