Caesar Bryan – Central Banks Aggressively Buying Gold
March 23, 2012
With gold trading $20 higher and silver solidly back above $32, today King World News interviewed 25 year veteran Caesar Bryan. Gabelli & Company has over $31 billion under management and Caesar Bryan has managed the gold fund since its inception in 1994. Caesar told KWN that central banks have been aggressively accumulating physical gold into weakness in the paper price of gold. Caesar went on to discuss silver and the mining shares as well, but first here is what he had to say about gold: “Well, there’s been a bit of a transfer from the paper players, those involved on the COMEX and in the futures market who have been liquidating. On the other hand, the physical buyers, including central banks, are stepping in to accumulate gold.”
Caesar Bryan continues:
“The central banks have been accumulating a great deal of physical gold at these lower levels. So there’s a bit of a tug of war going on between the futures market and the physical market. It’s really gut-wrenching what has taken place. Yesterday was a very disappointing day for some of my equity holdings.
When you start to feel sick to your stomach, that is usually a good sign and means we are going to get some kind of bounce….