Today a legend in the business told King World News there is a continued massive run on physical gold and silver. Keith Barron, who consults with major gold companies around the world and is responsible for one of the largest gold discoveries in the last quarter century, spoke about this remarkable situation and what it means for investors. Below is what Barron had to say in this remarkbable interview.
Barron: “I was just asked by one of the major brokerage houses in Toronto to give a presentation on what has taken place in the gold market. Many people inside the firm simply could not understand what happened with gold. I told them what we had just witnessed was an orchestrated takedown.
If the Dow, Nasdaq, or the S&P had tumbled in the same manner as what the gold market experienced, there would have been trading curbs, enquiries would have been made, etc. In contrast, all we saw in the gold futures market were more and more margin calls. But what is cleaning up this mess right now is the enormous physical demand.
We spoke last time on KWN about the tremendous demand at Scotia (Bank) in Canada and UBS in Switzerland, but the Japanese are coming in to the gold market in a shocking way right now….