What You Need To Know About The Coming Gold & Silver Move
November 7, 2012
Today acclaimed money manager Stephen Leeb told King World News, “Usually I’m not surprised by anything I see in these markets, but yesterday when gold was up over $30, I was a bit surprised. Even with the market action today, it’s very clear that the market realizes that money is going to remain very easy.”
Stephen Leeb continues:
“My advice is if we get a dip in gold, I would buy that dip. Gold has a lot of support. I think long-term and that’s a bet that I’m always willing to make. I haven’t sold a single ounce of gold or a single share of a gold stock. That is because I am positioning and I am thinking about the long-term.
I am going to tell you what reassures me….
“China is what reassures me. Data came out of China on Monday that their gold purchases increased by a huge percentage from August to September. China, year-over-year, has increased their purchases of gold by a staggering three-fold.
China is in this to make sure they have something tangible they can trade for commodities, which they know they are going to need at some point in the future. People talk about China and say it is overbuilt, but that’s not entirely true. If you look on a per capita basis, China has 1/15 as many railways as the US has.