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Gold finds a new home, as $4,000 for spot was hit in Asian hours

1. Gold prices surpassed $4,000 per ounce amid strong Asian trading activity. 2. India's gold imports doubled in September, showing price sensitivity. 3. China's demand rebounded, with local prices premium over London. 4. BRIC nations promote gold as a strategic asset against dollar dominance. 5. 68% of central banks now hold physical gold, an increase from 50%.

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FAQ

Why Bullish?

The sustained demand for gold, especially from Asia and central banks, often leads to price increases, echoing past trends where geopolitical tensions caused surges in gold purchases.

How important is it?

The article highlights critical shifts in gold demand due to geopolitical factors, indicating a strong possibility of sustained price increases.

Why Long Term?

The shift in gold demand to the East signals a long-term trend influenced by geopolitical factors, which can drive prices consistently higher over time.

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