Von Greyerz – Gold Will Trade $3,000 – $5,000 in 2012

December 29, 2011

With the gold price tumbling, along with silver, today King World News interviewed the man who told clients in 2002, when gold was $300, to put up to 50% of their assets into physical gold, held outside of the banking system. Egon von Greyerz is founder and managing partner at Matterhorn Asset Management out of Switzerland. When asked about the plunge in gold, von Greyerz said, “Well, Eric, I’m not really surprised because last time I talked to you I did say gold could go down to $1,550 support and maybe even $1,420. In my view that would be quite normal in a very thin market and I said that would probably happen by the year end.”

“But this is all a thin paper market, we have not seen one single physical seller of gold or silver at these prices. So it’s just manipulation and panic in a paper market at the year end. Of course, it’s easy for anyone who wants to intervene to push the price down even further in a thin market. So I think that’s what’s happening and I wouldn’t worry the slightest bit.

Gold is up for the year in all currencies and 2012 will be another fantastic year. I could see the first three to five months (of 2012) being dramatic. You know the financing requirements worldwide are just mind-boggling. We’re talking about trillions here if you combine sovereign, corporate and bank requirements. The requirements are so high they just have to start printing money and they will.

The combination of strong buyers (physical) at these lower levels and the fact that we will see massive money printing, starting next year, will lift gold and silver very quickly in my view….

© 2011 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.

Click below to continue reading:


via  My Blog.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: