Gold picking up even though investors largely ignoring voracious Asian demand
The gold price appears to be strengthening even though investors appear to be over-focused on U.S. Fed and ECB policy pronouncements - or lack of them, but fundamentals look good according to WGC.
Posted: Wednesday , 01 Aug 2012
NEW YORK (Forbes.com) -
Gold has regained its luster as of last week, when ECB chief Mario Draghi told markets "believe me," anything will be done to save the euro. Bullishness has been fed by the belief that Draghi has put himself in a position where he must deliver bold monetary action, which comes coupled with a Federal Reserve meeting where Bernanke & Co. must face a slowing U.S. economy.
Gold has traded sideways this year, explained the World Gold Council's head of investment research, Juan Carlos Artigas, but fundamentals point to a better story.....
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