Escalating Fear Accelerating Massive Run On Physical Gold
August 16, 2013
With some wild trading in the gold and silver markets, today John Hathaway spoke with King World News about what is happening in the war on gold and silver. Hathaway also spoke about the mining shares and the massive leverage in the fractional reserve gold system. Hathaway, of Tocqueville Asset Management L.P., is one of the most respected institutional minds in the world today, and his fund was awarded a coveted 5-star rating.
Eric King: “John, yesterday we had gold with a $50 trading range. After plunging $20, gold then reversed and closed on the highs up nearly $30, your thoughts here.”
Hathaway: “At one level it shows fairly conclusively that the market has turned, and this is the shorts really starting to feel the pain. At a a very technical level I think it’s just confirmation that the market has made a significant low, and now all that remains to be seen is whether this is in fact the platform for gold to go to new all-time highs.
There is a crunch in terms of supply right now. Some people that have purchased gold still don’t have it after 8 weeks….