Caesar Bryan – Gold & Silver Plunge, Europe in Continued Crisis
KingWorldNews.com
April 4, 2012
With gold trading near $1,620 and silver around $31.50, 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 Spanish bonds have weakened and are back to levels seen prior to the LTRO, so Europe is headed for trouble once again. But first, here is what Caesar had to say about the plunge in gold and silver: “Well, Eric, I often recall the late Murray Pollitt would often tell me, ‘This is the job of the gold bull market on days like this, to shake us out so we don’t participate on the upside.’ So investors need to hang tough and hold on to their positions on these down days.”
Caesar Bryan continues:
“Obviously, for those long of gold this action is very disappointing. You always have to go back to the fundamental reasons why you are holding gold and gold equities at times like this. The fact is the global economies are experiencing a very weak recovery, if at all, and the monetary authorities are still in an easy mode.
All of this will work to gold’s advantage in the medium-term. At times like this, professionals will revisit why they are in this market and when they come to the conclusion that it makes sense, they will add to or at least maintain their positions.
I have been doing this for a quarter of a century and I’ve discovered over time it’s a very easy sector for the weak hands to be shaken out….
The Rest…HERE
