from Walter Pehowich
Good morning. I will be traveling to Dallas with the first flight out of Newark this morning, so unfortunately I will be unable to give my live market comments.
But I wanted to still communicate my thoughts on an aspect of the precious metals industry, so I decided to address the question:
Why do Central Banks buy Gold?
In recent months I have been told by some Wall Street professionals that they believe gold fundamentals have deteriorated. Not to mention the Fed’s decision to raise rates in December last year. And adding to this thought process, are some Fed governor comments that more rate hikes are a possibility.