Sunday, 2 June 2013

The Level of Physical Gold Being Traded is Shocking!

“Just look at what’s happening in the physical gold market. The LBMA reported record gold transactions in April, of plus 25%. This is the highest level since gold peaked in September of 2011. So physical trading is at the same level where it was when gold was at its peak at $1,900. That’s extraordinary. The level of physical gold trading is incredible. We are seeing the same activity now as when gold was at its peak. And it proves that all of the selling is in the paper market.

Remember, Eric, these were April figures. We have seen, and also refiners have seen much higher activity in May. So demand is even greater right now. I believe that we have seen the gold market finally turn to the upside, despite today’s pull back  It’s possible to see some consolidation before gold takes off, but the real move, when it starts and it won’t be far away, that will be massive.”

- Egon Von Greyerz via a recent King World News interview, read the full interview here: