Board-Ansicht
Mix-Ansicht- man/frau soll auch dies gelesen haben..................... - Emerald, 09.12.2003, 15:56
man/frau soll auch dies gelesen haben.....................
-->
Gold Gold Gold - Risk of short term weakness despite the momentum being clearly positive?
Good Morning,
Gold slipped in Asian markets as the Japanese continue to liquidate long positions on the Tocom. Gold managed to recover during the Europead session as the Dollar fell against the Euro. Gold hit a new high just above $409 before easing as North America re-opened. Despite buying interest, gold was unable to re-capture the heighs and consequently slipped lower as equity markets rallied. Light stops were hit and gold fell below $405. the market however, remains overwhelmingly bullish and buying into weakness quickely emerged. Gold was able to claw its way back, closing up twenty cents on the day. While the market is very bullish, there are a few points of concern: 1. still no sign of inflation 2. strong economic data with a strong equity market 3. weak physical demand with gold trading at a negative interest rate in the near term which is very alarming and 4. nearing historical outstanding long positions. This is a speculative rally on the back of the weak Dollar. Unlike other commodities, however, we are not seeing ccy-related consumption. Metals, like copper and nickel, are seeing strong physical demand, but gold is not. There is nothing maturing for value spot.
heute uns durch die RBC Dominion Securities Limited, Toronto, zugemailt.
Emerald.
Thread gesperrtgesamter Thread:
