Ron Paul: Gold Could Go to ‘Infinity’
Monday, 24 June 2013
Gold jewellers and bullion dealers in India, soon to be the world’s second largest buyer after China, will be asked to suspend sales of gold bullion bars and coins to retail investors to support government efforts to narrow a record current-account deficit that’s pushed the currency to an all-time low.
The All India Gems & Jewellery Trade Federation, a group that represents about 300,000 gold jewelers, manufacturers, wholesalers, retailers and distributors, will send notices to members asking them to halt sales.
Ron Paul still likes gold. In fact, he thinks it could go to “infinity.” Below is his interview with CNBC’s Jackie DeAngelis and the Futures Now Traders from June 18th.
CNBC’s Jackie DeAngelis:
“Looking sort of at our economy and at the global economy, and were watching the situation in Japan closely as well, Why isn’t gold responding more?”
“Well you know if you look at the last 13 years it was up 12 out of 13 and this year isn’t even over yet, so I would say its responded pretty well. But you might say well yeah what about in the last year why hasn’t it? Well, markets do these things they go up sharply and sometimes they take a rest. But the long term is something you can get a handle on, but I was never very good on short term, whether it’s the stock market or whatever, or what government will do, they are just all over the place.