Monday

Buying of GLD Could be Dramatic

“I really believe that the decline last year was orchestrated because the (Western) central banks have run out of gold. To think that the US Treasury, which theoretically had 8,000 tons of gold, could only deliver 5 tons to Germany (laughter ensues). The dots you can connect are so obvious that there is no gold there (in US vaults). You would think they could have done a hell of a lot better than that (delivering only 5 tons), but they couldn’t. So I think we will see a lot more spirited buying of GLD, and its impact on the physical market could be very dramatic.”

- Eric Sprott via King World News, read more here: