Agnico CEO – This Is What Is Happening In Gold Right Now
November 2, 2012
Today one of the top CEO’s in the world spoke with King World News about exactly what is taking place in the gold market right now. Sean Boyd is CEO of $9.7 billion Agnico Eagle, and here is what Boyd had to say: “Gold had gotten a bit ahead of itself, and we’ve seen some recent strength in the US dollar. So we are seeing some of the fast money in gold pulling out here. But the big picture has not changed. The big picture is still a total lack of growth in the world, with continued financial uncertainty surrounding the high levels of debt.”
Sean Boyd continues:
“There has been a great deal of discussion, mostly in Europe, about austerity, but it’s not a viable option. It’s not an acceptable or palatable option to the people. This means that we will see continued stimulus and money printing. This will increase the supply of paper, which will ultimately be good for hard assets, particularly gold.
That’s what’s really happening. The other major factor will be the buying coming out of central banks….