Gold to Rally as Central Banks, Investors Buy, Coutts Says
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Gold will extend a bull run as emerging-market central banks and investors accumulate the metal to protect against weakening currencies, according to Coutts & Co., the private-banking division of Royal Bank of Scotland Plc.
“The reason we’re positive on gold is that major currencies around the world lack credibility,” Gary Dugan, chief investment officer for Asia and the Middle East, said in an interview in Singapore today, without giving a price forecast.