Gold rally hinges on stronger Asia demand

Gold analysts are generally bullish by nature and many have long-running forecasts that bullion is poised to rally through the $2,000 an ounce barrier, but the reality continues to disappoint.

If analysts were looking for reasons why gold has failed to push on from its all-time high of $1,920.30 an ounce, the World Gold Council’s third-quarter report is a good place to start.

No doubt the gold bugs will point to the fact that third-quarter demand, at 1,084.6 tonnes, was up from the second quarter’s 982.2 tonnes and was the first quarterly gain in a year.