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Commodities Briefing - Categorized | Bullion/Gold, Market Moves more

Bullion is setting up for another rally

Posted on 04 October 2012

The price of gold hit a record high this past week in euro terms at about €1380. The record came after a number of actions by central banks around the world, trying to stimulate their respective economies. The actions, usually centered around money printing, once again had investors looking for refuge in gold.
Since the beginning of September, investors have bought about 75 tons of gold through exchange traded funds. Reuters says that gold ETFs, such as the largest gold ETF – the SPDR Gold Shares, are on track for their biggest quarterly inflows in over a year, of 3.285 million ounces. Finally, according to UBS, investors have also raised their bullish bets on gold futures to the highest level in more than a year………………………………………..Full Article: Source


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VRS - who has written 34696 posts on Opalesque Commodities Briefing.


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