The Strong Backing Of The International Gold Price Depends On The Support From The Central Authorities.

2016 is undoubtedly a golden year for the international gold price (at least for now). The turbulent financial market has made all investors rush to buy gold, but we should not forget the "heavy" figure who supports the gold price behind the world.

Gold in dollar terms surged 17% in the first quarter, the strongest performance in 30 years.

And so far in 2016

The increase reached 19%, and it broke through 1300 US dollars / ounce for the first time in 15 months in February May.

Gold has gained many good news this year, including India, the world's largest gold buyer, back to the market.

Meanwhile, the US demand for gold coins has reached its strongest level in 30 years.

But the global central bank's gold buying is equally impressive.

Data released by the World Gold Council showed that in the first quarter, the global central bank bought a net gold of 45 tons.

According to Capital Economics, central bank gold demand climbed 28% in the first quarter compared with the same period last year.

The following are the three most active central bank buyers in the first quarter of this year:

Under the recent strong dollar pressure, the international gold price has dropped to 1265 US dollars / ounce area.

But analysts pointed out that as long as the global central bank gold demand is still strong, it is expected to continue to provide support for gold prices.

Even the big Goldman Sachs finally turned to gold and withdrew.

The proposal also raises the gold price forecast for the next 3, 6 and 12 months.

Goldman Sachs commodity analyst Max Layton and Jeff Currie released a report on Tuesday (May 10th) that the price of gold will be raised from $1100 to $1200 in the next 3 months, and the US dollar will be raised from 1180 US dollars to US $1180 in the next 6 months. It is estimated to increase from 1000 US dollars to 1150 dollars in the next 12 months.

In fact, Goldman has been suggesting since February this year

Gold.

Moreover, not only Goldman Sachs, but the astonishing rise in gold in recent months has scared away many investment banks' shorts, including the Georgette Boele of ABN Amro, which has just changed its view of empty gold prices in Holland recently.

BNP Paribas of France predicted that gold prices would rise to more than $1400 / ounce in 2017.

Meanwhile, HSBC (HSBC) also reported in its April 12th report that gold priced in US dollar is on the rise and is in the structure of Eliot's rising wave, aiming at $1500 / ounce.