where are we in this gold bull run

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  • 7/28/2019 Where Are We in This Gold Bull Run

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    Where are we in this gold bull run ?

    Ross Norman

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    H1 Strong Fundamentals ... H2 The Economy ...

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    Gold Production Flat Discoveries Falling ...

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    Production Costs Providing A Price Floor ?

    Source : RBC Capital Markets

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    Western Investors Selling Out ...

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    Chinese Gold Demand Positively Rampant

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    Indian Demand Remains Surprisingly Robust

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    Indian Government At War With Gold ?

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    Central Bank Gold Buying At A 48 Year High

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    Demand Weakening

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    Gold Mirrors Monetary Expansion To A Point

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    SUMMARY

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    SUMMARY

    Attractive FUNDAMENTALS set the stage for a sustainable goldrally between 2000 and 2008

    The ECONOMIC CRISIS accelerated the rate of price increase

    between 2008 and 2011

    2011 to 2013 Western Investors SELL Gold

    2013+ Gold is in transition and becoming Asian-centric and oncethe fear trade has left, the market is set for a slower rate of growthnot dissimilar to the 2000/2008 period

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    Ross Norman