SocGen Repeats $10,000 Target as Central Banks Buy Gold, ETFs Sell, Indian Dealers Run Out !

• SocGen Repeats $10,000 Target as Central Banks Buy Gold, ETFs Sell, Indian Dealers Run Out – 25 April 2013! 
  by http://www.bullionvault.com/ 
  WHOLESALE PRICES to buy gold rose to an 8-session high just shy of $1450 per ounce in London trade Thursday morning, recovering 45% of this month’s near-record slump. Asian stock markets also ticked higher, but European shares were flat while commodities extended their rally.
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  Silver prices were unchanged for the week so far at $23.30 per ounce. Gold priced in Sterling fell £10 per ounce from an 8-session high of £946 as the Pound jump on news that the UK avoided recession – growing just 0.3% – in the first quarter of 2013.
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  “Gold is continuing [its] recovery,” says the daily comment from the commodities team at Germany’s Commerzbank. “Rate-cut speculation ahead of next week’s [Eurozone central bank] meeting – and the prospect of continued ultra-loose US monetary policy following more weak economic figures – are lending buoyancy to the gold price.”
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  Investors who buy gold, writes Société Générale’s global strategist Albert Edwards in a new report, are making “a bet against central banks’ competency.” Given central banks’ track record, he adds – repeating his team’s forecast of $10,000 gold – “that’s certainly a bet I’d be happy to still take.”
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  Money-creation leading to a surge in inflation is also the forecast from billionaire hedge-fund manager John Paulson, who reportedly told clients on a webinar Wednesday that he and his chief precious metals strategist – the highly respected former UBS analyst John Reade – are also “holding course” despite last week’s price crash.
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