We're still in a bit of consolidation...I think everything is still pretty good, still positive for gold. It doesn't really have any momentum to push it down.
More Quotes from Darren Heathcote:
Geopolitical tensions continue to keep people invested in gold. People are content to be long in precious metals than the dollar, or other investments.Darren Heathcote
It's dizzy high, and we're looking at a very overbought market. We're looking for a correction. It has to come at some point. However, given where oil is, it may well give some support on the downside.
Darren Heathcote
There's some profit-taking now, but look at where we are. It's broken 520, the target we had yesterday ... looks like 525 is the next target.
Darren Heathcote
There's a severe lack of interest in Asia. There was some physical buying on the dips down. That's started to dissipate.
Darren Heathcote
Obviously, the funds will be looking to speculate and make some money out of this. But I am still of the opinion that the spike might be somewhat short-lived.
Darren Heathcote
There was a significant drive in Japan in recent weeks. People are very happy to be jumping on the bandwagon and basically riding the thing up.
Darren Heathcote
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