Wednesday, January 23, 2013
Jim Rickards on German Repatriation of Gold
Germany made a surprise announcement last week that the Bundesbank would begin repatriating gold reserves held overseas. The central bank said it wanted to keep more than 50% of its gold reserves at home. On the other hand, China is accumulating and increasing its gold reserved. What will that mean for the price of gold? Jim Rickards is bullish on gold short term and says gold prices will rise the most in currencies that are weakening the most.