China On Pace To Import A Remarkable 1,200 Tons Of Gold
August 7, 2013
With gold and silver still consolidating, today acclaimed money manager Stephen Leeb told King World News that the last two month’s of data indicates that China is now on pace to import a staggering 1,200 tons of gold each year. Leeb believes this is ultimately going to create a 10-fold move higher in the price of gold. He also believes that silver will advance 20-fold form current levels. Here is what Leeb had to say in this powerful interview.
Leeb: “I have noticed for some time that the coverage for gold and China by the mainstream media are unrelentingly negative. Last night, as an example, Bloomberg’s headline was, ‘Chinese Imports Of Gold Fall On Lower Gold Price.’ Well, the reality is that it fell month-to-month from 104 tons to 101 tons. China is on a path to import, just through Hong Kong, 1,200 tons of gold at this pace….