World Gold Council: Central Banks’ Influence On Gold Prices A Growing Bullish Force
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.
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