Analysts at Triland Metals note that demand on Asian gold exchanges as been historically high and are wondering just who is buying all that gold as physical demand continues to help to support prices around the $1,175 area. “The larger investment community still seems to shun the precious metals complex in the face of buoyant stocks and low yields which is causing the gradual decline in prices in the medium term,” they say. “And yet there is definite support here…” Analysts add they expect gold to remain range bound around $1,200 an ounce in the face of impending rate hikes. As interest rates rise, they say that gold might start to attract more investment interest.
