All4one"Why do you think reserve banks are buying gold at the...

All4one

"Why do you think reserve banks are buying gold at the highest rate in history??"

I don't think that the central banks (the Chinese in particular) were focusing on the price of gold when they bought gold. They were more intent on exiting a weakening USD. Remember that the central banks who have bought gold in recent years (notably the Chinese and the Russians) have been buying other Non-USD assets at the same time. It isn't always about gold.

"You don't believe gold producers will close their mines when the price hits around 1350?"

I have no opinion on this. I suspect that a lot of unhedged gold producers will go out of business. Whether that causes supply constraint that helps the POG go up is too early to speculate on.