One of the most popular questions at mining conferences is what is your top metal and why are you bullish on it. The clear winner so far this year is gold.
The problem with the bull case for gold is the evidence in the price charts is not quite so compelling. China’s demand was 184.1 tons, down 2 per cent from the corresponding quarter in 2018, but it was the third straight quarter of higher demand. The missing link, however, for a sustained gold rally is investor buying through exchange-traded funds .
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