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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on February 09, 2009, 09:57:01 PM

Title: Bullion sales hit record in rush to safety.
Post by: Bindare_Dundat on February 09, 2009, 09:57:01 PM

Financial Times
February 9 2009

Investors are buying record amounts of gold bars and coins, shunning risky assets for the relative safety of bullion amid renewed fears about the health of the global financial system.
...

The move into gold is being driven by the very rich, with bankers saying that some clients are hoarding gold in their vaults. UBS and Goldman Sachs said last week that investor hoarding would drive prices back above $1,000 an ounce. On Monday gold was trading at $892 an ounce.
...

Philip Klapwijk, chairman of GFMS, the precious metal consultancy, said that investors were buying gold because of fears about the global financial system rather than looking for a quick gain.

“This is a new round of safe haven buying,” Mr Klapwijk said.

http://www.ft.com/cms/s/0/359da604-f6d4-11dd-8a1f-0000779fd2ac.html?nclick_check=1

Title: Re: Bullion sales hit record in rush to safety.
Post by: grab an umbrella on February 10, 2009, 12:01:57 AM

Celente and Schiff have been calling this for a long time.