World wide central bank buying has been the major cause for higher prices. As the chart shows these central banks are trading their dollar holdings for gold. Gold is currently 25% of their holdings of foreign reserves. In 1980 gold was 75% of their foreign reserve holdings. They are not afraid to fill their vaults with gold and will likely continue to do so. Result? Much higher gold.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Comments
k 3650
f 3692
$3700+ hit this morning.
http://ProofCollection.Net
$3641 over here in The Commonwealth. I do see a daily high of $3669. THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
World wide central bank buying has been the major cause for higher prices. As the chart shows these central banks are trading their dollar holdings for gold. Gold is currently 25% of their holdings of foreign reserves. In 1980 gold was 75% of their foreign reserve holdings. They are not afraid to fill their vaults with gold and will likely continue to do so. Result? Much higher gold.
No Way Out: Stimulus and Money Printing Are the Only Path Left