Central banks worldwide buying up massive amounts of gold in a shift away from US dollar – Goldman Sachs ...News

Gold prices will climb to $1,600 per ounce over the next year, Wall Street bank Goldman Sachs projects. It says that central banks are consuming a fifth of the global supply of the yellow metal. “De-dollarization in central banks – demand from central banks for gold is biggest since the Nixon era, eating up 20 percent of global supply,” the head of global commodities research at Goldman, Jeff Currie, told Bloomberg. “I am going to like gold better than bonds because the bonds won’t reflect that de-dollarization.” Also on rt.com Gold ready to join ‘all-time-highs club’ as US

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