Yes but the gold price is inversely proportional to jewelry and technology demand, as it is to central bank selling
The gold price bottomed in 2000 as jewelry demand hit an all-time high and central bank sales peaked.
All that matters is what investors are doing... the people who hold gold as money/currency and alternative investment class.
Are existing holders selling like they've been doing in spades in 2013, or holding (as appears to be the situation now) or buying more (what I think will happen in the next few months as inflationary expectations rise)?
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