People Want Physical Gold and Silver in Their Hands-Tom Cloud
By Greg Hunter
3 JULY 2013
Hard asset expert Tom Cloud has spotted a clear trend with “the lions share” of his 2,000 high net worth clients. Cloud says, “I had a client the other day who liquidated a several million dollar position in an ETF because he said it’s time to put gold and silver in my hand. . . . People, the wealthier they are, want to get physical gold and silver in their hands.” Cloud is far from alone in his observation. Cloud reports, “I was talking to a major wholesaler last week, when the price was going down, and I asked how many orders have you had today? He said 560. I asked how many have sold to you? He said 20.” Cloud says delivery times for gold and silver bullion are unusually long. When supplies of precious metals are plentiful, Cloud says, “It would be in my hand in three to five days. . . Now, depending on the product, it’s two and a half to six weeks.” Cloud says the only two other times supply has been this tight was “1980 and 2008.” Cloud contends, “Supplies are tight and fear is high. I see it getting worse this fall.” Join Greg Hunter as he goes One-on-One with Tom Cloud of CloudHardAssets.com.