RE:RE:RE:Price of goldHi SR,
It's not just sentiment, it depends on the economic strength of the major buyers: India & China. Interesting article today ($$) on Indian demand:
https://www.ft.com/cms/s/0/544a9038-336b-11e4-9607-00144feabdc0.html
Here are some key extracts:
India is suffering a renewed spate of gold smuggling at the start of the annual festive period, which traditionally prompts a spike in demand, as import restrictions continue to throttle official inflows of the yellow metal.
Customs officials say seizures have jumped in recent weeks in advance of the festival season, which will reach its peak around Diwali in late October, while smugglers find ever more imaginative means of hiding undeclared gold.
The World Gold Council, a trade body, estimates that some 200 tonnes of gold will be smuggled into India during this calendar year...
MORE TO FOLLOW: STOCKHOUSE IS GIVING ME REAL TROUBLE POSTING.