Physical Gold Demand Strong In Emerging Markets and Limited Supply Leading To Higher Gold Prices

Consumers are lapping up physical gold at a time supply is declining, helping underpin a rally in gold prices.

Demand from emerging markets in particular is strong as currencies such as the Indonesian rupiah, the Malaysian ringgit and the Vietnamese dong has fallen sharply in the last 12 to 18 months against the U.S. dollar, prompting consumers in these markets to buy physical gold, which is seen as a haven in times of tumult according to CNBC.

Gold bars and coins are displayed at bullion dealers Goldcore, in London, U.K., on Thursday, March 11, 2010. Photographer: Chris Ratcliffe/Bloomberg

LBMA Gold Prices

14 Mar: USD 1,256.55, EUR 1,130.24 and GBP 875.89 per ounce

11 Mar: USD 1,262.25, EUR 1,136.50 and GBP 883.03 per ounce

10 Mar: USD 1,247.25, EUR 1,137.04 and GBP 876.67 per ounce

09 Mar: USD 1,258.25, EUR 1,146.69  and GBP 884.16 per ounce

08 Mar: USD 1,274.10, EUR 1,155.69 and GBP 894.35 per ounce

Gold News and Commentary

Strong demand from emerging markets, limited supply keeping gold prices up – CNBC

Japan’s Biggest Gold Retailer Says Negative Rates Boost Demand – Bloomberg

Stock Rally Continues in Asia as BOJ, Fed Loom While Gold Gains – Bloomberg

Gold rebounds on weak dollar, market eyes Fed meeting – Reuters

Gold Believers Scoff at Goldman Warning as Wagers on Rally Rise – Bloomberg

 

SILVER OUTBREAK: Investment Demand Will Totally Overwhelm The Market – Silver Seek

And then there was none: Canada sells its gold – Mining.com

Ignored for Years, a Radical Economic Theory Is Gaining Converts – Bloomberg

A ‘radical economic theory’ is gaining converts, except it’s not radical at all – GATA

Central banks beat Bitcoin at own game with rival supercurrency – Telegraph

Read more here

 

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