Hi Ray,
I can best comment about CB's. The French, Germans and Italians are pro gold. It is in their interest to get the price up, not send it to the Sahara.
We strongly believe an Asian central bank, or more than one, has been, and is, buying in a big way. If the Asians, in an anti-dollar ( American ) backlash, decide to shift a portion of their reserves to gold, that would be a big deal.
You got the LBMA comment. If the central banks go to neutral, from the heavy selling that has buried the market these past couple of years, we could have a buying panic at some point.
The bears have had their way for a long time. Perhaps, they will continue to vanquish. My bet is they will begin to run for the hills fairly soon.
Bill |
