Hathaway: Central Banks & Wealthy Are Now Big Buyers of Gold
May 25, 2012
Four decade veteran John Hathaway, told King World News “I was in California last week and I met with a lot of people. They are buying physical gold. Wealthy, private investors are buying gold.” The prolific manager of the Tocqueville Gold Fund also said, “we are starting to see a lot of central bank buying of gold.” Hathaway had this to say about gold bouncing solidly off the low $1,500 level: “That’s very encouraging. That was a very good test of the December low at $1,523, and it seems to me we are in good shape for six months or more. It could be (gold gaining) for the next two years.”
John Hathaway continues:
“I would not be surprised to see gold revisit $1,900 sometime this year, and maybe even trade over $2,000. You know we are starting to see a lot of central bank buying of gold. The central banks know the story. You have to say they are informed buyers. They are just adding to their gold reserves.
It’s not the headline countries, it’s places like the Philippines and Mexico….