OPEC has been increasing their demand figures and forecasts every month, while decreasing their output, says Martin Place Securities' Barry Dawes.
Tuesday, 13 Sep 2016: Barry Dawes appeared on CNBC's "Commodities Corner" talking about the gold market. Watch the full video on the CNBC website: http://video.cnbc.com/gallery/?video=3000550879&play=1
Every correction in the gold market has been quite shallow, which hints at strong underlying demand, says Barry Dawes from Martin Place Securities.
KITCO NEWS - Gold is in a strong bull market, and it's only going to get better, this according to Barry Dawes, executive chairman of Australian-based investment firm Martin Place Securities. But, unlike the doomsayers, Dawes is calling for a global economic boom and thinks gold stands to gain. 'This is a powerful bull market in gold,' says Dawes, noting that even more powerful forces are at work that will change the global allocation of capital. 'The world has never been as wealthy and the wealth is no longer a U.S. or Europe dominated force. China, India and South East Asia are now wealthy blocs with over 3,300 million people,' he said. In an interview with Kitco News, Dawes said he is calling for $1,500 an ounce gold by year end. 'The strength in the gold market has been displayed since the lows in January 2016 and long before Brexit became a market issue. Markets respond to the major long-term issues and tend not to be reversed over short-term matters,' he said. ... Read the full article on Kitco NewsWatch the interview with Daniela Combone on The Street: https://www.thestreet.com/video/13666564/this-is-a-powerful-bull-market-in-gold.html or on YouTube: TheStreet is a leading digital financial media company whose network of digital services provides users, subscribers and advertisers with a variety of content and tools through a range of online, social media, tablet and mobile channels. Our mission is to provide the most actionable ideas from the world of investing, finance and business in order to break down information barriers, level the playing field and help all individuals and organizations grow their wealth. With an unmatched suite of digital services, TheStreet offers all of the tools and insight needed to make the best decisions about earning, investing, saving and spending money.
Gold: $1,500 by year-end?
More people are looking to buy gold amid shrinking supply, which should spark a price rally, explains Barry Dawes of Paradigm Securities. Interview on CNBC