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31 ordspråk av Stephen Briggs
Stephen Briggs
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Has it done any damage, or is it just a correction in an upward trend? That's a tough call.
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My gut feeling is that it is not the end of the story for gold. Iran hasn't gone away, there is probable dollar weakness.
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Prices would not be where they are if not for the huge, unprecedented amount of money coming into the market.
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There's no reason with the amount of gas we have in storage for the price to keep going up.
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Remorseless buying of precious metals by investors has pushed prices higher. Quietly behind in the background is dollar weakness.
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I don't see any demand. Storage is obviously high.
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It's been a huge rally, and all rallies inevitably have some kind of correction.
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The appetite for metal commodities is enormous at the moment.
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We are now in a situation really where investor interest is so much that gold can benefit if the dollar declines, but it doesn't suffer particularly if the dollar strengthens.
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So it doesn't matter really whether it is or it isn't, the gold market has decided it is an issue.
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I don't see any reason why this interest in gold will go away.
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Most people agree it's the metal of the year for general fundamentals, but they are all heavily affected by massive speculation.
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There is no guarantee that there will be buyers, but the point is that the market thinks and hopes that they will and that's just the sort of bullish spin, even if it is against the actual fact.
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However, in the current heady environment of massive investor interest in metals, we have little confidence that this will happen soon.
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In all, we forecast that world lead production will grow by 5.5%-6.0% in 2006 and 4%-4.5% in 2007.
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