Investing.com – The record recovery of is boosted by Central Banks, which are increasing their exposure by moving out of positions in US Treasury securities. This was pointed out in a note to the market yesterday by the Swiss group Julius Baer, which projects that, nonetheless, prices are expected to remain at still elevated levels, but are not likely to rise further. Gold prices continue to advance this Wednesday, the 15th, with futures up 1.36% at $2,392.05 per ounce.
“Instead of a major surge in demand, the record recovery of gold can be explained by an increase in buyers’ willingness to pay, spiced with some speculation,” says Carsten Menke, head of Julius Baer’s next-generation research.
Menke evaluates that monetary authorities, including the People’s Bank of China, would have greater willingness to pay than Western investors, with motivations considered more political than economic, but the shift in direction would be “much…
