Trying to offset damage from QE is ‘like trying to put out a fire with gasoline.’

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.