Why Gold Will See $2,000
ANZ’s Warren Hogan and Victor Thianpiriya say central bank demand may drive the metal to new highs as China emerges as a gold trading hub.
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ANZ’s Warren Hogan and Victor Thianpiriya say central bank demand may drive the metal to new highs as China emerges as a gold trading hub.
Prices may reach $1,700 or higher between June 2016 and November 2016,
North Americans and Europeans continue to overwhelmingly favor PAPER IOU’s compared to their Asian and Indian counterparts who enjoy buying and holding physical assets such as GOLD.
In October, the Russian Central Bank bought nearly 20 tons of gold, or around 8% of total world monthly gold mining production
Russia and China are openly accumulating gold in an aggressive way, while India has been confronted with huge gold demand
Gold appears to have bottomed out and could be the in the process of making a comeback
Long-term precious metals stand to gain significantly from balance sheet expansion at central banks and currency debasement despite criticisms that this will not happen.
So I think that prices are probably in the process of bottoming out here, and that we will see again higher prices in the future.”
It costs more to produce silver that it’s selling for! Miners won’t carry on like this for long. Some have already put the brakes on planned production increases.
Gold climbed for a second day after Federal Reserve Chairman nominee Janet Yellen backed stimulus until the economy and labor market improves