China Gold Mania – Coins, Bars and Jewelry Sales Surge 108%
Gold remains under pressure despite very robust demand and anaemic supply globally.
This suggests that speculators in the futures market continue to hold the upper hand. While this may continue in the short term and lead to further short term weakness in the price, the long term supply demand fundamentals will almost certainly lead to higher prices. We continue to believe gold will surpass its real inflation adjusted high of $2,400/oz in the coming years.
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