Gold prices rose Monday for the first time in 3 days on bullish signs here at home and abroad.
In Europe and Asia:
“While European Central Bank policy makers refrained from increasing asset purchases at a meeting last week, President Mario Draghi pledged to assess the need for more stimulus early next year. China last month lowered interest rates to spur economic growth, while Japan has expanded its unprecedented stimulus program.”
Meanwhile, here in the U.S.:
“Participants boosted Bullish Gold bets to a 3 month high on indications that central banks will act to counter low inflation, reviving the allure of Gold as a hedge.”
What’s more, the low gold prices have speculators predicting high demand for gold bars, bullion and coins from India (25% of global gold demand). In Turkey (the world’s 5th largest gold consumer in the 3rd quarter), gold demand climbed to its highest last month in six years.
Could the bulls be back?
Learn more on futuresmag.com and moneyweek.com