In several of my recent articles, I have discussed the various factors to be bullish on gold not just in the near-term, but for the next decade. The currency factor dominates the factors to be bullish on gold with all currencies likely to depreciate against hard assets in the coming years.
With gold likely to trend higher in the long-term, countries that have significantly high sales of gold as a percentage of GDP are likely to benefit.
The chart below gives the top eleven gold economies with high gold sales as a percentage of GDP.
Among large economies, Russia’s gold sales as a percentage of GDP is 0.5%, China’s gold sales as percentage of GDP is 0.2% and gold sales as a percentage of GDP for United States is 0.1%.
Why I am bullish on Gold -