THERE JUST ISN’T ENOUGH GOLD
There are lies damned lies and Central Bank Gold statistics. Total official global gold holdings are reported to be 33,000 tonnes. That is 19% of all the gold ever produced in the world. But how can anyone ever believe any of these figures. Because no central bank ever has a public audit of all its gold holdings. Since the gold belongs to the people, they have the right to know if the gold actually exists, especially since the gold reserves are backing the currency.
…n 2017 gold has outperformed the US stock market and rallied 12%. It is likely that we will see a major gold rally in the autumn on the way to a new high. So after a very long consolidation period, lasting six years, gold and silver will now resume the uptrend that started in 2000.
The coming rise of gold and silver in the next few years will not just be the reflection of the fall of all paper currencies. Major contributors to the rise will also be the failure of the paper market in the metals and the realisation that central banks possess much less physical gold than they have indicated.
Therefore, physical gold and silver will continue to be the best way to preserve wealth during the coming destruction of all bubble assets such as stocks, bonds and property. But the opportunity to purchase gold and silver at reasonable prices is soon ending. There just won’t be enough gold to satisfy the coming demand.
PG View: If there isn’t enough gold to satisfy the coming demand, the adjustment will come in the price . . .