Barry Stuppler

Over the past several years, world central banks have become buyers of the gold bullion. They continue to buy now, as gold prices remain depressed compared to their 2011 price levels ... The first quarter of 2015 marked the 17th consecutive quarter where world central banks were net purchasers of gold. This is significant ... with their buying spree, central banks are sending a simple but clear message: they want gold as part of their reserves . . . .

Bank of China Ltd. will become the first Chinese bank to join the auction process that sets gold prices in the London market. The bank, along with seven other lenders, will start participating in the twice-daily electronic auction, according to a statement from the London Bullion Market Association on Tuesday. While China is the world’s largest bullion buyer, it has never directly played a role in determining London gold prices . . . .

Suppose someone approached you in the year 2000, when the price of gold was around $250 an ounce and suggested that it would be worth almost eight times its current value within the next decade. I am sure most people would have thought that person to be less than credible making such an outrageous market call . . . .