Gold: Long-term bulls may need some patience

If you like to follow what the Asian Central Banks are doing in the Gold market, then my understanding is that they will certainly be buying dips but we may not see them in size until the price gets back near $1500/oz. Looking at the weekly technicals, there’s a previous weekly low near $1525 and the 100-week MA is at $1480, so long term bulls will probably look to those levels in the first instance.