After hitting over $925 an ounce, gold for June delivery fell by just under $18 at Tuesdays close. Silver, which recorded a near 8% rise last week followed suit with a 4.5% drop.

Platinum and palladium also fell from earlier highs leaving the precious metal sector under some pressure.

Amongst the factors given for the fall was the a decline in the price of oil, a steadier dollar, profit taking after last weeks substantial gains and perhaps some price manipulation in the options market.

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Early morning European trading, (10.00 am CET) saw gold trading at $910 an ounce, comfortably above its Friday close of $901 an ounce.

We have been waiting for the psychological, as well as the resistance, barrier of $900 an ounce to be breached to get back into buying mode.

Our only reservation is that the price may be too tied to the surging price of oil and if that pulls back then gold is very likely to turn down. In that event the question is will it hold steady above $900? If so we think that will signal the renewal of strong bullish sentiment. 

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As far as gold is concerned I am of the opinion that supply and demand has more of a psychological than a practical effect on market moves.

Virtually all the gold that has ever been produced is still present or recoverable in pure form, unlike any other precious metal. It is this unique property that has accounted for its historical appreciation as the ultimate store of value.

Until or unless an alternative arrives I believe we have no alternative but to continue our belief in gold.

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With the metal markets having difficulty in breaking out from the current downtrend and suffering a few false starts during the last two weeks, now seems a good time to try to analyze recent price moves in the hope that some directional clues will emerge.

There is no doubt in our mind that the technical indications have been pointing to a gold pullback with a fall to around $750 an ounce being a favorite.

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• Titanium is a metal having the chemical symbol is Ti. It is one of the Platinum Group Metals (PGMs)
• It is the ninth most plentiful element on our planet. It is present in meteorites and been detected in class M planets and our sun. Apollo 17 returned from the moon with rock samples containing Titanium compounds.
• It has a silvery white metallic lustre when pure.
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  PGMs titanium alloys Titanium uses
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When we write an article it is our aim to provide both an insight to the latest precious metal news and developments and to draw some conclusions as to the future behavior of gold, silver and platinum group metals.

Usually we publish on Monday after we have had time to reflect on the previous weeks events and have had a quick look at any price action starting the week from the Far East, London and other European exchanges before the New York open.

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The production of commercial quantities of Titanium is an expensive and complicated process and has only been possible for the last sixty odd years.

Nevertheless, in what is a relatively short space of time, many highly sophisticated and technical advances have been made in aviation, marine, medicine, electronics, space travel, paints and decorative materials and numerous other fields due to the unique properties of Titanium, Titanium alloys, Titanium compounds and Titanium coated metals.

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Hardly a week goes by without reading about yet another new application for Titanium, Titanium alloys or Titanium Oxide.

Just to remind our readers that titanium is corrosion resistant, as strong as steel and nearly half the weight and is not rejected by the human body.

These properties have caused the price of the metal to more than double since 2005 as demand has increased in the industrial, chemical, medical, energy, and electronic sectors. It is also becoming increasingly popular in the jewelry trade.

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Precious metal market analysts were caught up in a conflict of opinions in the last week over the next moves in platinum group metals, silver and gold prices.

Looking at gold, the catalyst for the sector, we read of projections of a gold price over $2000 an ounce by the end of the year at one end of the scale down to $650´ish at the other.

The problem is, of course, deciding whether it is the bull camp or the bear camp that provides the most convincing arguments.
 

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Turning to uranium, things are not looking too good in the short term according to the technicians.

Fibbonacci, MAs etc are all indicating weakness and fundamentally there is nothing much going on to contradict this outlook.

Sooner or later we think that the world is going to wake up to the fact that nuclear is the only viable energy replacement for the fossil fuels that continue to pollute the planet and, with the exception of coal, are a rapidly depleting resource.

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