Gold is getting strong demand from central bank buying this year as they try to diversify away from dollar-denominated assets. The third quarter saw record buying with a surge to 400 tonnes. The largest central bank buyer remains undisclosed, although it is likely China..
We examine a number of earlier bubbles including the Roaring Twenties, the gold and silver bubble of the 1970's, the Japanese land bubble, the dot.com bubble, and the housing bubble.
Holiday hours this week (U.S. Thanksgiving). Wednesday will not be normal, pre-holiday markets with FOMC minutes. The Dollar is trying to find its footing..
Gold is coming up to an important resistance, the 200 day moving average with supports coming in at 18 and 100 day moving averages. Prices pushing the upper Bollinger band with market overbought...
