Gold could hit new record, says researcher

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 […]

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