Gold's bid

Last time the market had $235bn of gold length, the price of gold was $1850, $150 difference compared to today. This is because central banks have been buying gold at a high rate (currently around 33% vs 10-15% average), accounting for a larger percentage of annual demand and leaving less gold for investment demand. As the last hike of the cycle approaches, it is more likely that the next $200 will be higher than lower writes Goldman's trader Tony Kim. Let's see if this is the third time's the charm, but 2050 is huge resistance...and the crowd is long.