00:00The U.S. has set a new record for gold over US$2,700 per ounce.
00:05We go to the first piece of information.
00:07Last weekend, the U.S. managed to break its new record
00:10for gold over US$2,700 per ounce.
00:14The conference was held by the London Balean Market Association, or LBMA.
00:20Last weekend, the U.S. projected that the gold trend
00:24will continue to grow until next year,
00:27reaching US$2,900 per ounce.
00:34During the conference,
00:36the London Balean Market Association, or LBMA,
00:41projected an optimistic gold trend
00:43for the next few years.
00:46In the LBMA annual survey,
00:48the delegation stated various views on the gold record.
00:52Gold mining remains the main focus
00:54with a predicted value of US$2,941 per ounce in one year,
01:00or about 10% higher than the current position
01:03which is also in the new highest record.
01:05Since the beginning of this year,
01:06the gold price has even reached 30%
01:08which is the best year in the last 45 years.
01:11The panel of discussion at the LBMA conference
01:14stated that although the central bank's request for gold is a bit late,
01:18the interest in this noble achievement continues.
01:22For example, the Czech National Bank,
01:24one of the largest gold buyers in the last 18 months,
01:27with an additional 32.8 tons,
01:30plans to increase the reserve to 100 tons.
01:33Next, the Mongolian Central Bank,
01:35which is also active in the gold market,
01:36noted that the country is facing a unique situation
01:39because it is a gold producing country.
01:41In addition to increasing the reserve,
01:43Mongolia also sells some of its domestic production.
01:46However, they still emphasize the value of gold
01:48as an important diversification
01:50portfolio in the reserve.
01:52With the increasing geopolitical uncertainty,
01:54the role of gold as an alternative global currency is increasingly recognized.
01:58The geopolitical conditions affect many strategies of the central bank's reserve
02:02as outlined by the Mongolian border
02:05in using the US dollar.
02:07Although the US dollar remains important,
02:09the transition to an uncertain world economy
02:11will still support the gold demand.
02:13For more information, visit IDEC channel.
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