15
September
Central banks seen becoming net gold buyers
15 September 2009 Reuters
Central banks are expected to buy 6 million to 10 million ounces of gold annually due to currency uncertainties after being net sellers in past decades, Jeffrey Christian, managing director of CPM Group, told the Denver Gold Forum on Monday.
In a keynote speech kicking off North America's biggest gold conference, which runs through Wednesday, Christian gave what he said was a conservative forecast for gold to average $914 an ounce over the next 10 years. Spot gold XAU= was trading at around $1,000 on Monday.
http://www.reuters.com/article/usDollarRpt/idUSN1440639620090914
