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(Kitco News) – Gold’s ability to maintain its trading range and attract fresh ETF inflows despite soaring bond yields suggests its next move could be to the upside, while central banks’ shift away from dollar assets continues to bolster the longer-term bullish outlook, according to Kenny Zhu, Director of Research and…
China added more gold to reserves last month, pushing a buying streak close to the two-year mark as prices weaken toward $4,000 an ounce.
Gold has lost about 27 percent since its January record. Why rate hikes and oil prices weigh on it and central bank buying only slows the slide.