People’s Bank of China Increases Control of Country’s Gold Market
Forbes reported that China's Central Bank is placing a tighter hold on the gold market by implementing trading restrictions.
Forbes reported that China's Central Bank is placing a tighter hold on the gold market by implementing trading restrictions.
In 2010 some analysts thought John Embry's forecast of the 2012 gold price, which placed the yellow metal between $1,500 and $2,000 an ounce, was too optimistic. Now it seems that Embry may have undershot the mark.
The World Gold Council (WGC) says China’s growing demand for the precious metal may double sooner than its original prediction of 2020 as both private and institutional investors move to increase their holdings as a hedge against international inflation concerns.
Sprott Asset Management's chief investment strategist, John Embry, told Mineweb’s Gold Weekly podcast listeners Wednesday that if gold’s “not between $1,500 and $2,000 in the next 18 months, I'm dead wrong."
Get our independent commentary on gold trends and companies delivered to your inbox.