ANZ have forecast a "significant long term strengthening of gold price"
- As Asian demand grows, liberation of Asia's financial system, and growing wealth of Asian populations
- ANZ estimate the price could exceed $2,400 USD ... (by 2030! That's the 'bad news' bit)
- Long term growth in China and India
- Could see double annual gold demand in Asia 10 countries (from 2,500 tonnes p.a. to 5000 tonnes) within 15 years
- Continued accumulation oh physical gold by Asian central banks
ANZ Chief Economist Warren Hogan:
"Asia's rise will have profound implications for the gold market. A growing middle class will buy more jewellery, a larger body of professional money managers will drive investment demand and regional central banks will purchase more gold to provide confidence in newly floated currencies. These factors will support a long term and significant increase in the gold price."
More:
- ANZ have a short term price target of $1100 USD/oz
Gold over the past 3 days ... not 30 years:
