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Jean-Marie Eveillard continues:
“You’ve had the hedge funds over the past few years (in gold) because it had been going up. But what I would argue is that gold is not too popular because if I look at the institutional world, the pension funds, endowments, etc., very few of them are invested in gold bullion, and very few of them are in gold mining stocks.
So I don’t think gold is popular....
Continue reading the Jean-Marie Eveillard interview below...
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“Some people say, ‘But gold has moved from $250 an ounce, to almost $1,800. It’s overvalued.’ Gold, for me, is truly a substitute currency. A currency that cannot be printed. A currency that has nothing to do with the pure paper money system that has been in place now for 40 years.
So gold is a substitute currency, and I look at the enormous amount of paper that continues to be issue by the Fed and the ECB, and as long as they keep printing enormous amounts of paper, I think gold cannot be overvalued. There is one individual who, in terms of the backing that would be necessary for the enormous amount of paper that has already been issued, thinks that as of today the amount of gold should be at $15,000 an ounce.”
Eveillard had this to say regarding the comments made by the Fed’s Dudley today: “That’s positive for the price of gold because it means that the inflationary potential will be greater than one would have expected than if Bernanke would have said we will be very careful to prevent inflationary forces from taking over.
Number one, the stimulus may not have a positive impact. Number two, if it does, and they are slow in reacting to the fact that the economy is improving, then what will happen is the inflationary forces will take over. So either way it’s good for gold.”
The above information was just a small portion of this outstanding interview with Eveillard. He covers gold at length during this segment. The King World News interview with Jean-Marie Eveillard will is available now and you can listen to it by CLICKING HERE.
© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
The interviews with Jean-Marie Eveillard, Bill Fleckenstein, Art Cashin (UBS $612 billion), Jeffrey Saut (R.J. $360 billion), John Embry and Gerald Celente are available now. Also, be sure to listen to other recent KWN interviews which included, Rick Santelli, Michael Pento, Don Coxe, Pierre Lassonde, and Rick Rule by CLICKING HERE.
Eric King
Here Is What To Focus On In The Gold Market Right Now
Today legendary value investor Jean-Marie Eveillard spoke with King World about the pull back we are seeing in the gold market right now. Eveillard, who oversees $60 billion, also covered comments that came out of the Fed today and how they are supportive for the gold market.
Here is what Eveillard had to say: “Yes we’ve had a few disappointing days, but the price of gold had gone up before that. We have, so far, a minor correction. Had gold become too popular at close to $1,800? I don’t think so, but the thing about gold, you always have the short-term players, usually with leverage, in the futures market.”
© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast,
rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
October 15, 2012
