Today the man who has become legendary for his predictions on QE, historic moves in currencies, told King World News that no one is selling physical gold right now.
No One Is Selling Physical Gold
Egon von Greyerz: “Eric, there are 3,000 tonnes of gold coming from the mines each year. All of that gold is now being absorbed by just normal (everyday) buying, mainly in the Far-East, mainly from India, China, and Russia. Any increase in demand will not be satisfied with the increase in stock (production). So if people want to buy gold they will have to pay a lot more so that other holders of physical gold will sell. But they are not going to sell at $1,200. None of our clients are sellers. Our clients haven’t been sellers for the last 15 years (since GoldSwitzerland was founded in 2002). Therefore, you won’t see any gold…To continue listening to the remarkable KWN audio interview with Egon von Greyerz CLICK HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: If You Are Worried About Today’s Smash In Gold & Silver Just Read This… CLICK HERE.
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