Bloomberg have posted a piece that gold traders might find of interest, with some bullish commentary from analysts sprinkled throughout:
- Central banks from Serbia to Thailand have been adding to gold holdings and Ghana recently announced plans for purchases, as the specter of accelerating inflation looms and a recovery in global trade provides the firepower to make purchases.
HSBC
- "If a central bank is looking at diversifying, gold is a marvellous way of moving out of the dollar without selecting another currency"
Standard Chartered
- "Geopolitical tensions, the need for diversification and heightened uncertainty have continued to buoy interest in gold reserves"
Here is the link if you want to check it out.
Gold chart ... turning back higher?
