Gold could hit new record, says researcher

Central banks shifted to net sellers of gold during the September quarter for the first time in nearly a decade Gold And Silver > Gold-and-silver-news

Staff Reporter

Central banks shifted to net selling during the period for the first time in nearly a decade.

Net sales were estimated at just under 13t.An absence of purchases from Russia and China drove the shift, along with increased gross sales by some countries battling the economic effects of COVID-19.Refinitiv’s analysis suggests banks are taking advantage of high gold prices."It is in the near term that we are likely to see increased volatility, choppy trading and fluctuations in the stock markets and the gold price, particularly in the run-up to US presidential elections," said precious metals director Cameron Alexander."While we may see gold consolidating or caught up in a broader sell-off in the short term, gold should benefit from growing risks revolving around […]

Click here to view original web page at www.mining-journal.com

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.