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Extreme Increase in Demand for Physical Gold & Silver Globally

King World News is continuing to get reports from sources around the world regarding tremendous physical demand in both gold and silver. One source out of Norway told KWN, “What I can report from Norway, and as you know we are not part of the euro system, we are experiencing an extreme increase in physical demand for bullion, both in silver and also in gold.” This report came in from Martin Mesicek, from Gold Source, the largest bullion dealer in Norway.

Martin Mesicek continues:

“As an example, I am experiencing longer than normal lead times for Silver American Eagles. Clients are now waiting three or four weeks to get them. Simultaneously, we are experiencing a shift in purchasing behavior. It used to be that our clients bought on the way up in fear of losing their chances to buy. Now we see the opposite. People are reluctant to buy on the big increases, but once we see the dips, we see huge orders. This is a major shift.

So what we are seeing is that our clients are becoming more experienced and more wise about their purchases. They buy on the dips and they accumulate in size. As an example, we have seen a doubling and tripling of physical purchases into this decline. Most importantly, these are the same clients that are buying, but in greatly increased quantities....

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“You have to take into consideration that Norway is a very fiscally prudent country. We have a positive trade balance, we have one of the greatest sovereign wealth funds in the world, we are an oil exporter, we have a strong currency and only 3% unemployment.

All of this reduces the risk for Norwegian citizens of the country encountering financial problems, but still we see more and more private individuals, retail clients going into physical in a big way. That is a major shift in the Norwegian market.

Our clients are not the mainstream investors. The mainstream saver in Norway is still putting money into equities. They are still saving up for their pension funds with banks that allocate the money into equities and mutual funds. Our clients are people that read and listen to your show. These are people that are getting their information from alternative media and they are interested in the global economic situation.

On a side note, many of our clients have an international background, where a spouse is from a country in South America, Asia, Eastern Europe or the US, and they have really felt the impact of bad currency decisions.”

Eric King

KingWorldNews.com

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