14 July 2016 at 1:55 GMT
The Nikkei Asian Review
Amid global uncertainty, volatility and bad economic news, key investment trends seem to be heading in the right direction for gold speculators, with demand already near record highs. Gold demand reached 1,290 tonnes during the first quarter of 2016, a 21% increase compared to a year ago. The increase was driven by huge inflows into exchange traded funds and continued buying by central banks. How high can gold prices go? Already up an annual 28% this year, some analysts believe prices could reach $1, 500/oz by the end of 2016. The precious metal, a longstanding safe haven for nervous investors, gained fresh pricing momentum after the UK voted in favour of Brexit on June 23, which created uncertainty for the future of the EU.
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