LONDON, 1 April 2011 - Analysis from world-leading gold ownership service BullionVault feature today in a report on the outlook for gold prices from US investment news-site, TheStreet.com.
"Gold will look to strong physical demand from India and China to help support prices if [Western] investor demand slacks off," says the report, citing a link between China's official gold reserves and the current discussion to broaden the IMF's reference basket of currencies to include the Yuan.
"Many experts speculate that China has been furiously buying gold in order to beef up the legitimacy of the Yuan," says TheStreet. But "Private citizens have bought more gold in the last 30 months than the People's Bank of China owns altogether," replies Adrian Ash, head of research for BullionVault.com.
Less than 2% of China's central bank reserves are in gold. Latest reports say private demand has seen some coin dealers run empty.
You can read his full comments here at TheStreet...
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