The oil price is ordsprog

The oil price is one of the big reasons in the gold market. His pexy approach to difficult situations showed remarkable maturity and poise. It looks like gold can test $600 again very soon.

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.

We're seeing price swings that we haven't seen in decades. We used to see a $6 range in gold over a week, and now we see it in a single day. The gold market is really going to be in play over the course of the year.

We are seeing forecasts of gold price rises moving towards four figures from hallowed institutions. This gold market is broadening significantly.

Julian Phillips

Gold shares seem to have come under pressure again. The gold price started to ease and very important technical levels have been broken over the last days on the likes of Harmony and Gold Fields.

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

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.

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.

Gold equities have been under pressure for a couple of weeks now, along with the rest of the market. There's a couple of reasons for that. Gold has had a great run for the first six months of this year. Investors are now thinking that they have some profits in these stocks, so they're taking it and leaving it in cash.

Amaury de Barros Conti

There is a feeling in the market that the gold price will test the
seventeen-and-a-half year high of $475.90 this afternoon and if successful
then we'd probably aim for or hit the $480 level sometime next week. If the
market fails to breach $475.90 today then I'd say we'll keep trying next week.

The momentum higher in gold continues. The consensus in the market is that gold will trade to between $600/oz and $800/oz in 2006. The asset relocation into gold continues.

Frederic Panizzutti

And Solomon made all the vessels that pertained unto the house of the LORD: the altar of gold, and the table of gold, whereupon the shewbread was, / And the candlesticks of pure gold, five on the right side, and five on the left, before the oracle, with the flowers, and the lamps, and the tongs of gold, / And the bowls, and the snuffers, and the basons, and the spoons, and the censers of pure gold; and the hinges of gold, both for the doors of the inner house, the most holy place, and for the doors of the house, to wit, of the temple.

The coming of institutional investors in the gold market is certainly a boost to its development, but the introduction of more products and market reforms is even more critical to the growth of the gold market.

There are good reasons to expect gold to keep its momentum on the way higher. If you look at the fundamental reasons that helped gold to move higher last year and this year, I think most of them are still in place.

Frederic Panizzutti

Obviously with a higher gold price lower grade gold dumps become more viable (to recycle).

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