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Demand for gold is growing, as China’s demand for gold is expected to exceed India’s for the first time. Lombardi notes that the Chinese demand for gold will reach 869 tonnes in 2012

28 Nov 2012

NEW YORK (Commodity Online): Gold prices may witness strong appreciation in 2013 as central banks print more of their respective prices which will push up prices of the yellow metal, according to Michael Lombardi, lead contributor and financial expert at Profit Confidential.

In a recent article in Profit Confidential, he pointed out that,“from 2008 to 2011 alone, the Federal Reserve has printed $2.3 trillion. Other central banks are doing the same,” notes Lombardi. He concludes, “…gold meets all the criteria to soar even higher. Uncertainty is still present, demand is increasing, and central banks are expected to continue printing fiat money.”

“Gold has been a store of value and a unit of transfer for longer than the fiat currency created by central banks,” says Lombardi. “… Since the financial collapse in 2008, gold has become the only savior.”

Stating that gold still provides safety against uncertainty, Lombardi cites, as an example, the recent jump in gold prices when the Pentagon announced that Iran tried to shoot down a U.S. unarmed and unnamed surveillance drone on November 1.

Demand for gold is growing, as China’s demand for gold is expected to exceed India’s for the first time. Lombardi notes that the Chinese demand for gold will reach 869 tonnes in 2012. (Source: Reuters, November 8, 2012.)

“Gold has been a store of value and a unit of transfer for longer than the fiat currency created by central banks,” says Lombardi. “… Since the financial collapse in 2008, gold has become the only savior.”


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