Central bank and consumer buying in India and China arrest gold’s slide
Financial Times/Henry Sanderson/4-14-2021
“‘There’s been a sea change in sentiment in Asia,’ Rhona O’Connell, an analyst at brokerage StoneX in London, said. That could provide a floor for gold prices if central bank gold demand also remains strong, she said.’
USAGOLD note: This article offers further confirmation of ramped up physical gold demand from central banks, China and India – as reported here over the past two weeks. The demand in Asia is the result of released pent-up demand as those regions come out of pandemic social and economic gridlock. In our view, central bank demand has been restrained by an unpublicized lack of physical availability for large-size purchases.
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