Given the positive sentiment...it would hardly be surprising if the market does take heart from any dollar weakness even though it ignored the move higher.
More Quotes from Alan Williamson:
Precious metal prices remain firm, underpinned by ongoing tensions in the Middle East and continued speculative enthusiasm for commodities.Alan Williamson
It may well be that the stalling in the gold price rally over the last few days reflects a slowing in inflows into the various exchange-traded funds. With the major source of gold buying drying up over recent days it is hardly surprising that the gold price rally has stalled.
Alan Williamson
I can't imagine anybody taking any aggressive position for the rest of today.
Alan Williamson
With many of the factors that were considered bullish for gold still in place, the risks for gold are weighted to the upside.
Alan Williamson
Although CFTC Commitments of Traders data showed a small fall in the total speculative long position, most holders seem to have been willing to stay with the market for the time being.
Alan Williamson
It's quite encouraging to see that platinum is holding up above the 1,000oz level. Where to from here We expect it to track gold.
Alan Williamson
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