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Central Bank Gold Demand Won’t End Soon As RBI Expected To By 1.5 Million Ounces This Year – Analysts

Generalist investors continue to shun the gold market to focus on record equity prices, but there is still one sector that is interested in the precious metal.

Central bank demand remains an essential factor for the gold market and their appetite is not close to being sated anytime soon, according to some analysts.

Speculation is growing that India’s central bank will add to its gold reserves this year. In a recent report, Howie Lee, an economist at Oversea-Chinese Banking Corp. said that he estimates that the Reserve Bank of India (RBI) could purchase 46.7 tonnes of gold in 2019, or about 1.5 million ounces.

W Resources PLC (LON:WRES) is building a European mining company focussed on delivering long term production of tungsten, a key strategic metal with strong market fundamentals.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.