Central bank gold, 2014 and beyond

Central bank gold demand may slip in 2014 from recent years, says expert analyst George Milling Stanley, but the “turnaround” from the previous 20 years of selling remains remarkable. With four decades’ experience of the bullion market, plus genuine “insider” contacts across the central banking world, George Milling-Stanley was head of government affairs at the World Gold Council, the mining-owned market development organization, for 15 years. Also a key member of the team which developed the idea of gold-backed Exchange Traded Funds (ETFs) a decade ago, and now head of GMS on Gold LLC.
Looking at price, “I think gold is building a base around $1200 per ounce,” says George Milling Stanley.
“And let’s be fair to gold – that’s five times the price it was just a decade ago.”
Other key points discussed in this 27-minute audio include: Why do central banks, and especially Western governments, hold so much “legacy” gold today?
How might 2013’s thirty per cent price drop affect Chinese, Russian and other emerging-market central bank demand?
Why did the Swiss National Bank’s unrealized loss on its gold holdings make the headlines?
How do new routes to selling gold work to make buying it more attractive to investors?
All told, “I think we’re in for a very healthy market overall, definitely with higher prices,” says George Milling Stanley, also sharing his expert view of the jewelry and gold investment markets worldwide.
Source:Bullion Bulletin

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