Alan Williamson Towards Quotations

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.

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 the precious metals complex remains overwhelmingly bullish.

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

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.

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.