Unprecedented Run On Physical Gold Now Set To Accelerate
KingWorldNew.com
August 29, 2013
With gold and silver continuing to consolidate recent gains, today John Hathaway warned King World News that the run on physical gold may now be set to accelerate. Hathaway also spoke about the enormous implications as this massive run on gold unfolds. Hathaway, of Tocqueville Asset Management L.P., is one of the most respected institutional minds in the world today regarding gold, and his fund was awarded a coveted 5-star rating.
Hathaway: “Eric, I still think we are dealing with a shortage of physical gold vs the enormous amount of paper claims. Of course we are seeing a bit of backing and filling in gold as August comes to an end, but I think this story is going to keep coming back.
Entities who have paper claims, whether it’s futures contracts or derivatives — where you have banks or the COMEX as the intermediary — are going to say, ‘Hey, I would like to have my gold in a more secure situation. This means getting possession of their physical gold in a non-bank vault….
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