Shocking Events & Big Picture In Gold As We Head Into 2014
December 12, 2013
With continuing volatility in the gold and silver markets, today one of the great veterans of the gold world sent King World News an extraordinary piece covering the shocking events we are seeing take place in the war on gold, as well as a stunning look at the big picture for this key market. KWN was given exclusive distribution rights to the outstanding piece below by John Hathaway of Tocqueville Asset Management.
By John Hathaway, Senior Managing Director, Tocqueville Asset Management
December 12 (King World News) – Shocking Events And The Big Picture In Gold As We Head Into 2014
Money printing by world central banks, it would seem, has propelled the prices of all things rare. The list includes fine art, vintage wines and antique sports cars. It is front page news that the flood of paper money has enhanced the quotation of almost any tangible asset perceived to be in scarce supply. In a 11/23/13 article, The Economist reports: “Evermore wealth is being parked in fancy storage facilities….The goods they stash in freeports range from paintings, fine wine and precious metals to tapestries and even classic cars.” The article observes that a key factor fueling “this buying binge…is growing distrust of financial assets.” It doesn’t hurt that the prices of most of these items have trended steadily higher in price over the past decade.