Friday, October 11, 2013

Physical Precious Metals Demand

As Western investors flip-flop on whether or not gold remains a good buy, Eastern and emerging market investors have jumped on these low prices as an unprecedented buying opportunity. At this point, the data supporting physical precious metals demand is so great that it's easier to just list a few highlights from the second quarter of 2013:

 - 53% more bullion was purchased worldwide this quarter than in 2012 year-over-year (YoY).

 - Demand for gold jewelry worldwide grew 37% YoY. ·Global coin and bar demand hit a quarterly record of more than 500 metric tons.

 - For the 10th consecutive quarter, global central banks increased their net gold reserves

(excerpt from the article "Gold Is Off To The Races")



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

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