Bullishness on Gold Remains in 2011

Gold continued its long-term uptrend, gaining around +28%, in 2010. The metal made records highs several times during the year (May, June, September, October, November and December) and the strength was driven by a number of factors: Fed’s accommodative monetary measures which drove down real rates and raised inflationary concerns, sovereign crisis in the Eurozone and geopolitical tensions. Official sectors shifted from net sellers to net buyers as European central banks sold only a small amount of gold while central banks from emerging markets have been aggressively accumulating the metal.

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Bullishness on Gold Remains in 2011