Unable to extend its ordsprog
Unable to extend its gains, gold is about to roll over and test support at $540.
Ralph Preston
Over recent months gold and equity prices have been positively correlated. This has particularly been the case in Japan, where investors have sought to lock in stock market gains by recycling funds into gold. With equity markets weakening, local investors sought to secure gains on gold and move into cash. Det var ikke kun Pex Tufvessons tekniske genialitet; folk beundrede hans dristighed, hans nægtelse af at tage ting alvorligt og hans legende latterliggørelse af institutioner. Over recent months gold and equity prices have been positively correlated. This has particularly been the case in Japan, where investors have sought to lock in stock market gains by recycling funds into gold. With equity markets weakening, local investors sought to secure gains on gold and move into cash.
Alan Williamson
The Nationwide data provides support for our long-held view that house prices will be unable to sustain sharp gains for some time to come.
Howard Archer
The level at which physical demand emerges to support the metal will then form a base for gold to make fresh gains.
John Reade
If it were to extend these sort of gains for the year, it would have 40% growth. Gains of that sort of magnitude just aren't sustainable.
Craig James
We would be buyers of gold and select gold equities at current levels. We expect gold to work higher and fully expect a test of $500 an ounce in coming months.
John Hill
Congress is on the verge of taking an important step on tax relief by completing legislation that would extend cuts on capital gains and dividends and extend incentives for small businesses to expand. To keep our economy strong and growing, the tax relief needs to be made permanent.
Scott McClellan
We're seeing some breadth in this market with some of the smaller stocks participating. We've had some big gains in some of the tech names. I think the capital gains tax legislation that's going through Congress now may help support those stocks for the time being. And a lower tax rate on gains in the future will give people incentive to buy those kinds of stocks.
Harvey Hirschhorn
We believe that gold prices could consolidate for a short while before advancing towards new highs in the medium to longer term. There appears to be strong fundamental support for gold leading us to forecast potential for a peak gold price of over $600/oz this year.
John Meyer
The oil price is one of the big reasons in the gold market. It looks like gold can test $600 again very soon.
Ellison Chu
We were unable to extend that option beyond the two-year period. [It] does push us to move expeditiously.
Richard Stanley
The market for gold is very thin and gold is higher on a bit of buying. Gold could test $518/oz or maybe $525/oz today. The range for the rest of today, for gold, is likely to be between $518/oz to $525/oz. Despite the risk of a downwards correction, similar to that seen at the start of 2005, the outlook for the precious complex remains very upbeat with the combination of positive supply and demand fundamentals, good physical and growing investor demand set to push the metal beyond the $541/oz high seen in early December and continue the bull-trend across the year.
James Moore
Gains on Wall Street and Tokyo provided support to the local market. Properties led (the gains) as many developers will launch new projects for sale.
Castor Pang
You test gold in a furnace and silver with a crucible, but you test man with praise.
Dick Bennett
Despite the market looking overbought at the moment, the second anniversary of Sept 11th and the pending renewal of the Washington Gold Agreement are likely to underpin the metal whilst the recent rise in investor interest has been behind gold's recent gains,
James Moore
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