Swiss Gold Refiners Overwhelmed, Major Delays In Deliveries

Today Egon von Greyerz told King World News that Swiss gold refiners have been overwhelmed with orders for physical gold and buyers are now experiencing major delays in deliveries. Here is what Greyerz, who is founder of Matterhorn Asset Management in Switzerland, had this to say in this remarkable, exclusive interview: “I had stated previously that gold would bottom in the last week of December, and this is what happened. That daily, intraday low that we’ve seen was a screaming buy both fundamentally and technically. I can tell you there were many banks and other parties taking advantage of this low, Eric.”

Egon von Greyerz continues:

“This is important information for your (readers and) listeners: There has been major buying in the physical market as gold came down in the last week of December, and the first week of January. The Swiss refiners are now working at absolute full capacity.

There is a delay in fulfilling orders….

“This shows you what I’ve been saying, as gold is dipping, the strong buyers are coming in. The Swiss banks are buying, the Middle-East is buying, the Far-East is buying. The buying came in on the dips and it was so massive from the Swiss banks and from the Middle-East, and the Far-East, that the refiners could not supply them without major delays.

And this is confirming what I’ve been saying continuously, that the manipulation of gold is taking place in the artificial paper market. The paper sellers are selling what they don’t have (physical gold), and they can never deliver.

And the buyers are buying paper gold that they can never get hold of. The day the paper buyers realize this, which in my view is not far away, gold will explode. This is why it is so important, Eric, to hold physical gold and to hold it outside of the banking system.”

Eric King: “So Egon there is massive buying coming into the physical gold market as we see these (paper manipulation) dips.”

Greyerz: “Yes, Eric, and it confirms what you and I have been talking about for so long, and the buyers are serious buyers. Buyers from Switzerland the Middle-East, and the Far-East. This is very powerful, and it shows that people should not worry about gold dipping because the real buyers are in the physical market and that is the only market we should look at.”
Article Source: Kingworldnews

MICHAEL PENTO: It Would Be More Surprising If Gold Didn’t Go To $10,000

The world’s central banks have gold bulls on high alert thanks to unprecedented, ultra-easy monetary policy.

Eric King of King World News asked Michael Pento if this means gold $10,000 is coming.

Here’s Pento’s response:

“Absolutely.  I know it sounds ridiculous, but don’t forget that back in the 1930s it was (around) $21 an ounce.  No one would ever have believed that 80 years later we would have gold trading anywhere near $1,900 an ounce, but that’s what happened.

If you look at the rate of destruction of the purchasing power of all of the developed world’s currencies, it’s a slam dunk that gold is going much, much higher than its inflation-adjusted high of around $3,200 an ounce.
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Man That First Spotted QE4 Now Says Gold To Break $10,000

Today the man that spotted QE4, before anyone else in the financial world, surprised King World News when he boldly predicted that gold will eventually trade above $10,000 an ounce.  Pento also warned that in the first half of 2013 Israel would attack Iran, sending oil prices skyrocketing to $170 a barrel.

Here is what Michael Pento had to say in this extraordinary interview:  “The charade of independence between a government and their central bank is being shattered throughout the developed world.  Let’s just take a look at Shinzo Abe, and the Bank of Japan.  Abe comes in and he has a 2% target of inflation.  Right now inflation is negative in Japan.” Continue reading