I am bookmarking this to read more thoroughly, the conclusions seem to point to gold being "under-owned" by general investors and emerging market central banks, a commonly stated view of the gold market. The authors see this driving prices higher as ownership changes.
Something I have never really understood is who owns the world's 130,000 tonnes or so of gold now. The Central Banks and ETFs hold at most 1/3 ?
Who will be selling at higher prices to those who are currently under-invested?
Link HERE
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