Gold Bulls at Dubai Precious Metals Conference (Video)

Americans don’t hear a lot of news about the precious metals industry in the Middle East, even though 20% of the world’s gold supposedly trades through Dubai. In this video, Peter Cooper of ArabianMoney.com gives us a peek into “the city of gold” while interviewing participants at the second Dubai Precious Metals Conference this last weekend. Here’s Cooper’s summary of investor sentiment at the conference:

“On balance the generally fairly skeptical Dubai Precious Metals Conference audience voted in favor of the bullish case. That would mean a renewal of the upward momentum that has been stalled for the past 18 months with prices moving lower and sideways.

Still the main drivers of the gold price have not gone away although the financial world does seem better at absorbing shocks. What does it take to send gold higher? A strike by North Korea? Another crisis of confidence in financial markets? Or just a proper consideration of what $1.4 trillion per annum in money printing from the Bank of Japan means for a money that cannot be printed?”