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Monday, October 22, 2012

Central banks continue to drive gold prices higher, World Gold Council says

While the WGC says inflation risks are still the strongest fundamental on gold prices, central bank policy and gold purchases are a growing force on price direction. In the World Gold Council's just-released quarterly Investment Statistics Commentary for the third quarter, the nonprofit association of the world's leading gold mining companies clearly shifts the focus of what's moving the yellow metal's price more and more toward central banks.

For the WGC, the various ways central banks are employing "unconventional monetary policies" are playing a bigger and bigger role in affecting the price of gold. ... From a global gold investor's perspective, most of the big news came from central banks hinting at or announcing plans to extend or expand their "unconventional monetary policy" (which the WGC uses to mean pretty much anything other than interest-rate manipulation). Since policy meetings weren't scheduled until the later half of the third quarter, many investors held off making decisions until after they could read the defense, so to speak, seeing what the central banks were actually going


to do. At the same time, data available on central bank purchases shows that many countries continue to add to their gold reserves. More information can be found online at http://www.goldbullionadvisors.com

Posted by Richard Davey at 1:25 PM

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▼ 2012 (106) • ► November (9)


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• Gold rallies to highest price of 2012 • BlackRock exec predicts $2,400 gold by next summer... • Gold is money, not a commodity, declares Deutsche ... • Signs of Gold Standard continue to emerge in China... • PIMCO analysts call Gold Bullion a "compelling inf... • Investing in Physical Gold • Vaulted Gold Bullion as an Investment • Gold Bullion Shortages coming soon ! • Return to Gold Standard? Why Price Would Hit $10,0... • PIMCO fund manager buying gold bullion stake • First Asset Management Targets $2100 Gold Bullion • Gold Bullion continues to be a great Investment ► September (26)

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Richard Davey Consultants to the banking industry to supply gold bullion http://www.goldbullionadvisors.com View my complete profile

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