An explosive and well researched note has just been published by Cheuvreux, the commodities arm of SocGen.
The reports main point is that Central Banks have 10,000 - 15,0000 tonnes less gold than their total published reserves of 31,000 tonnes. This is because they've been covert sellers over the last decade trying to depress the price.
Therefore, combined with other economic and political factors there could be a run on the price with demand far out stripping the perceived supply.
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