Gold Poised for Best Quarter Since 2010 on Bank Demand – Bloomberg 09-26-12

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.

Read the full article at http://www.bloomberg.com/news/2012-09-26/gold-poised-for-best-quarter-since-2010-on-investor-bank-demand.html