Chinese investors sitting on 150 billion yuan (US$21 billion) worth of gold exchange-traded funds (ETFs) are likely to enjoy an extended run of a world-beating rally in the metal’s price amid robust demand, according to Swiss banks Julius Baer and Lombard Odier.
Even after gaining almost 50 per cent this year, gold prices were set to rise to US$4,000 an ounce in the next 12 months, Julius Baer said, while Lombard Odier said the precious metal would rise to US$3,900. JPMorgan Private Bank was…Chinese investors sitting on 150 billion yuan (US$21 billion) worth of gold exchange-traded funds (ETFs) are likely to enjoy an extended run of a world-beating rally in the metal’s price amid robust demand, according to Swiss banks Julius Baer and Lombard Odier.
Even after gaining almost 50 per cent this year, gold prices were set to rise to US$4,000 an ounce in the next 12 months, Julius Baer said, while Lombard Odier said the precious metal would rise to US$3,900. JPMorgan Private Bank was…  Read More ​Business – South China Morning Post