I can't imagine anybody taking any aggressive position for the rest of today.
More Quotes from Alan Williamson:
Given the increased correlation between base and precious metals over recent months, any further weakening in base metal prices would be a distinct drag on gold.Alan Williamson
Wherever the numbers fall, they fall. I am hoping they fall in my direction. Seven votes brings to mind that every vote does count.
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
The fact of the matter is he is still not in compliance.
Alan Williamson
Gold lost some of its impetus with the release of lower than expected US trade figures and this prompted profit taking in gold. Earlier in the day gold's upside had also stalled.
Alan Williamson
Gold is pausing for breath now. Unless it comes back down and breaches the 562 level, then I think the uptrend is still intact.
Alan Williamson
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