Salient to Investors:
Gold is set for its biggest quarterly rise since Q2 2010.
Sun Yonggang at Everbright Futures said the poor economic backdrop will keep up global stimulus measures which benefits gold – the next bad news or more stimulus will take it past $1,800.
Kazakhstan expanded gold reserves for a 13th month in August, South Korea bought 16 tons and Paraguay bought 7.5 tons in July.
Lachlan Shaw at Commonwealth Bank of Australia said central-banks need more gold in reserves because it maintains its value and adds to the diversification benefits of portfolios, so their purchases will be a key, long-term driver.