USD strength is likely to be the major factor influencing precious metals in the near term

USD strength is likely to be the major factor influencing precious metals in the near term. I spoke with Jordan Eliseo from ABC Bullion about the outlook for gold, trends in physical demand and the longer term prospects for gold. The key points are 1) Short term strength in the USD is likely to keep gold at lower levels in the near term. The strength of the US economic recovery is a key influencing factor here. 2) At current prices demand for physical gold has been quite subdued. Many investors have already established an existing holding and would need to see either prices substantially lower or signs that the commodity is back into a bull market and rising steadily. 3) Central Banks have switched from being net sellers to net buyers of bullion - a tailwind for the outllook in gold. Access the full discussion here: