Mints have halted production or taking new orders because they can't keep up with physical demand - people should just think about the fundamentals before throwing figures out there. Large shorts on TOCOM are covering and moving to the longside - reduction of over 100,000 short contracts since mid-2006 to under 6,000 now. You would think they're trading and short contracts would be through the roof still if it was to reach those targets.
Personally just can't see it falling much more - just too much of a disconnect between paper price and premiums in the physical market.
Of course, we just have to wait and let the market tell us which direction she wants to go in.
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Simon Kidston, Non--Executive Director
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