No gold sticker shock - Citi's Aakash Doshi on high precious metal prices and 'inelastic buyers'
Central bank buyers could be less sensitive to higher gold prices, said Aakash Doshi, NAM Head of Commodities Research at Citi.
On Tuesday, Doshi spoke to Kitco Mining.
Jewelry fabrication typically represents about 50% of the gold market, with the rest of the demand coming from investing, central banks and industrial uses.
“Historically, the demand side of the ledger has been driven and led by jewelry demand. Consumption could be as high as 50% or 55% for gold jewelry,” said Doshi. “[That] started to shift over the last 10 to 15 years. It really started with the Great Financial Crisis. So…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.