In blue central banks holdings, and in yellow gold spot price.
Russia aims to increase its official gold reserves to 3000 tons (against 918 tonnes today).
China, meanwhile, has claimed it will raise its gold holdings to 4,000 tons of gold (against 1054 currently).
US Quantitative Easing vs. Gold price
Gold mining companies / gold price ratio
Gold mining companies (in red) are coming back close to gold price.
We still have a low P/E ratio on Gold.
Time to invest in gold.
A pull-back is coming soon, then we will break the $1,800 resistance and reach the $1,900-$2,000 zone.
Back to the $48, it will be a good opportunity to invest in Gold mining companies.
Bull market ! Not yet 80...(overbought) (under 30 -> oversold)
