by Nathan McDonald, Sprott Money:
On August 16th, 2018, gold bullion ended its long-suffered downtrend, closing at $1176.20 USD.
Fast forward to today and we have a much different picture, as gold has rallied—and rallied hard—from this low point, hitting as high as $1340.10 USD earlier this week.
This continues the trend I said would unfold throughout 2019, and as we highlighted recently, it is coming to fruition as Eastern Central Banks become net positive buyers of the yellow metal, buying physical gold hand over fist.
As we have stated before, this charge is being led by some key players such as Russia, China, Turkey, Poland and India, all of whom are buying gold in ever-increasing quantities.