Consumers are lapping up physical gold at a time supply is declining, helping underpin a rally in gold prices.
Demand from emerging markets in particular is strong as currencies such as the Indonesian rupiah, the Malaysian ringgit and the Vietnamese dong has fallen sharply in the last 12 to 18 months against the U.S. dollar, prompting consumers in these markets to buy physical gold, which is seen as a haven in times of tumult according to CNBC.
Gold bars and coins are displayed at bullion dealers Goldcore, in London, U.K., on Thursday, March 11, 2010. Photographer: Chris Ratcliffe/Bloomberg
LBMA Gold Prices
14 Mar: USD 1,256.55, EUR 1,130.24 and GBP 875.89 per ounce
11 Mar: USD 1,262.25, EUR 1,136.50 and GBP 883.03 per ounce
10 Mar: USD 1,247.25, EUR 1,137.04 and GBP 876.67 per ounce
09 Mar: USD 1,258.25, EUR 1,146.69 and GBP 884.16 per ounce
08 Mar: USD 1,274.10, EUR 1,155.69 and GBP 894.35 per ounce
Gold News and Commentary
Strong demand from emerging markets, limited supply keeping gold prices up – CNBC
Japan’s Biggest Gold Retailer Says Negative Rates Boost Demand – Bloomberg
Stock Rally Continues in Asia as BOJ, Fed Loom While Gold Gains – Bloomberg
Gold rebounds on weak dollar, market eyes Fed meeting – Reuters
Gold Believers Scoff at Goldman Warning as Wagers on Rally Rise – Bloomberg
SILVER OUTBREAK: Investment Demand Will Totally Overwhelm The Market – Silver Seek
And then there was none: Canada sells its gold – Mining.com
Ignored for Years, a Radical Economic Theory Is Gaining Converts – Bloomberg
A ‘radical economic theory’ is gaining converts, except it’s not radical at all – GATA
Central banks beat Bitcoin at own game with rival supercurrency – Telegraph
Read more here
‘7 Real Risks To Your Gold Ownership’ – New Must Read Gold Guide Here
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