Gold made a new high above US$3060 earlier, now its above $3070

  • Central banks underpinning the price

Gold continues to rise,

  • strong demand from Asian central banks
  • and other central banks

is supporting the price, along with those seeing comfort from rising geopolitical risks.

I posted yesterday on Goldman Sachs' forecast - its one of the loftiest I have seen.

Golden great wall of China cartoon

China has been one of the big buyers.

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