Massive Sovereign Bid In The Gold Market At This Price Level
September 25, 2013
Today one of the savviest and most well-connected hedge fund managers in the world spoke with King World News about the exact price level where a large sovereign buyer has a massive order for physical gold. He also updated KWN readers on the state of physical demand around the world for gold, as well as the extreme leverage being employed in the gold market. Outspoken Hong Kong hedge fund manager William Kaye, who 25 years ago worked for Goldman Sachs in mergers and acquisitions, had this to say in his powerful interview.
Kaye: “It’s apparent to me that the orchestration against gold is not over. The paper gold market is the dog wagging the tail of the real gold market, the physical gold market, which is still incredibly robust. In my area of the world, Chinese demand, Indian demand, and so forth, is very strong.
So, your listeners (and readers) need to be clear that we have none of the characteristics of a bear market (in gold). Gold is still very much in a bull market, but that’s physical gold. The claims on paper gold exceed physical gold by roughly 93 to 1….