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Not really a surprise with Turkey increasing their holdings by 23 Tonnes in August. The China, Russia and India have been buying up gold, it’s just a matter of time when more countries decide to take this type of action.
Means one thing gold will be going only one way, and that is up in value, here it will stop no one really can accurately predict this is increase.
According to Nick Barisheff CEO and President of Bullion Management Group Inc. wrote a book $10,000 gold by 2017, is still a good bet.
All the Best
Joseph F. Botelho