The rally in gold just doesn't want to quit. You are probably wondering what is going on. Central banks around the world hold gold reserves. Periodically, they buy or sell gold, depending on how they view world markets. Right now, central banks are net buyers, the first time since 1988.
A weak US dollar is the main stimulus for central bankers' gold purchases. India just bought 200 metric tons from the International Monetary Fund. Central bankers in Mexico, Russia, the Philippines, all have increased their gold purchases.
Continue reading Why is gold marching higher? Ask the central bankers
Why is gold marching higher? Ask the central bankers originally appeared on BloggingStocks on Fri, 20 Nov 2009 18:00:00 EST. Please see our terms for use of feeds.
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