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Making the case for $3,000 gold: the power of scarcity Despite the gold price hitting all-time highs this year, growth for both the bullion and the gold mining sector is just getting started, with gold expected to expand to the $3,000 an ounce range, said Jeff Pontius, CEO of Corvus Gold. “I think we’ve got a fundamental market that’s got a lot of legs left in it. I think we’ll easily see gold move into the $3,000 an ounce range,…

Central bank gold demand has slowed but hasn’t disappeared – WGC Central bank gold demand has been slowly declining through 2020, with July net purchases falling to their lowest level since December 2018. However, the World Gold Council said this sector remains an essential pillar of support for the gold market. WGC said that foreign exchange reserve data from the International Monetary Fund shows that central banks collectively bought 8.2 tonnes of gold in July. So far, in 2020, central…