Friday, May 17, 2013

If gold's such a loser...

Why are central banks gobbling up all the gold they can get their hands on?

The World Gold Council, an industry trade group, notes:
Central Banks remained significant acquirers of gold, making purchases in excess of 100t (109t) for the seventh consecutive quarter. 
Overall total global demand for gold in Q1 2013 was 963t, down 19% from Q4 2012.
I don't think there's a serious gold bug out there who hasn't warned there'd be wild volatility in the gold markets as economic uncertainty deepens.  And despite swings in price, gold appears to be consistently moving to those with strong hands.

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