David Fuller's view With palladium and platinum reaching new recovery highs today, I regard this as a bullish lead indicator for gold (weekly & daily) and silver in the current cycle. Accordingly, I increased my long position in gold by 16.6%, paying $1124.7 for another June position, including spread-bet dealing costs. The risks with this trade are that gold may continue to lag because of the IMF's remaining sales, for which I have not yet heard a completion announcement. Also, some investors may be drifting away from gold because of remaining concerns over the reliability of bullion ETFs, plus competition from in-form stock markets.

This afternoon, with the yen continuing to weaken (often mentioned at Fullermoney as a key factor if Japanese equities are to perform) I opened a long position in the Atlantis Japan Growth Fund (AJG LN) (weekly & daily), which I have mentioned on several occasions in the last few weeks. I paid $11.278 for a September contract. The risks with this trade are that Japan may disappoint once again. Also the spread-bet dealing cost for a September position is high at a current level of 37 points. In other words, the bid/offer spread was 1091.8 to 1127.8 when I bought.