LONDON, 24 April 2012 - Comment from world-leading gold ownership service BullionVault features today in City AM, the free newspaper read by XXX commuters entering London's Square Mile and Canary Wharf financial districts each weekday morning.
"Gold has been struggling to make any real breakthroughs of late, stuck below the psychological $1700 an ounce level since the beginning of March," says financial features writer Craig Drake. "But while gold is struggling to gain any upside in the short term, the fundamental drivers of a bull market that has lasted more than 10 years remain."
Pointing to monetary debasement, as well as financial and political instability, the article quotes Adrian Ash, head of research at BullionVault, noting that as a group central banks have become strong net buyers of gold for the first time in two decades. Demand has slowed so far in 2012, however, in line with a sharp deceleration in the growth of central-bank foreign exchange reserves.
You can read the full story at City AM here...
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