14 Quotes by John Reade
- Author John Reade
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The outlook for most of the major gold mining companies is for static to lower production for 2006. With the new project pipeline in gold relatively empty and few major discoveries of gold made in the past decade, we do not expect this picture to change.
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- Author John Reade
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We had a very good run. You have a pullback and correction at some stage and we are in a process to do that at the moment.
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We might be able to find ways that we can mitigate this. And we should be doing this in quiet time before a pandemic rather than under pressure should one erupt.
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Silver has moved to the fore following the ETF news of the past week and the metal looks set to trade above $10/oz in the near term.
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Platinum has been much more resilient than we expected,
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I still want to see this correction find some decent physical demand ... Once we can prove that physical demand is actually going to support gold, that will encourage people to take gold higher again.
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But the other factor is that we have indications that Chinese demand for platinum is recovering despite prices being stable between $845 and $880.
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Both platinum and rhodium remain at or near the highs for this rally and are benefiting from broader metals interest and, in the case of rhodium, apparent genuine shortages.
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We expect that funds held 17-18 million ounces of gross long positions as of Tuesday. If the net long position is more than this then we will become even more bearish; only a release that shows that the net long positions declined from the 15 million ounces reported last week would make us positive about the short-term outlook for gold.
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