RMS 6.40% $1.75 ramelius resources limited

gold price movement

  1. 3,927 Posts.
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    I find it very interesting that gold is so hot but on the other hand india purchased 400 ton in one day or 12 million ouches, $12b dollars worth. That may seem like a lot but compared to money flow though international economies its dust.

    There has been speculation that the gold standard is returning, I tend to think its rubbish because the world doesnt have enough gold to subsitute foreign currency reserves. Where is china going to buy 2 trillion worth of gold.

    I tend to think that gold has been treated as a safe haven by banks, sophisticated investors and hedge funds, and there is a shortage of gold, there simply isnt the physical stocks to cover all the hedging. This is what I beleive is forcing the gold price up.

    Gold is running out so, even if we have a large correction it should bounce back, there is some realism in bullish prediction of gold hitting $3000 per ounce. Gold production has reduced by 100ton a year since year 2000.


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