Gold extremely undervalued in a typical summer low

Ben Davies, CEO of Hinde Capital, speaks a lot of sense about the gold price outlook in an interview with CNBC, and sees gold prices as undervalued in a typical summer low. But he has some warnings about gold ETFs and unallocated gold accounts.

Gold prices have been held back by central banks, he argues. Asian central banks are moving into gold because they don’t like the currency outlook.