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Kitco News speaks with Adrian Ash, head of research for bullionvault.com, about the current sentiment in the metals markets as well as reasons why gold prices are not moving higher. According to Ash, the overall sentiment at the LBMA/LPPM Precious Metals Conference is “guarded optimism” and the big drops in gold prices this year cleared out a lot of the speculative cash that came with the bull run. “I think there’s continued growth in private investor demand, people are still looking to have gold & silver as portfolio insurance,” Ash says. “What you have now is a situation where the sense of crisis and the reasons that were driving people to buy gold, people are getting bored with that now.” With regards to Fed, Ash says it is clear now that the impact of QE will not be strong on the gold price anymore. “What really drives gold prices up and down is investor sentiment,” he says. “It’s all about western investment dollars.” Tune in now for more LBMA coverage. Kitco News, October 1, 2013.
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As well as the most accurate precious metal prices online, Kitco also provides up-to-the-minute news with usable market information. Videos provided by and © Kitco.
As well as the most accurate precious metal prices online, Kitco also provides up-to-the-minute news with usable market information. Videos provided by and ©
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