China Is Still Underweight Gold – New Gold CEO

from Kitco NEWS

Sitting with Kitco News at the BMO Metals & Mining Conference, New Gold chairman Randall Oliphant said he thinks the revival in gold is ‘real’ this time. Focusing on central bank gold buying, he said he thinks this will help move gold prices higher, driven by the People’s Bank of China’s affinity for the yellow metal. ‘China is still hugely underweight gold,’ he noted. ‘Central banks have now been buying for 7 straight years and they keep buying. We seem to be firing on all cylinders.’