Here Is The Gold Market In One Fantastic Chart

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After a week of choppy trading, King World News is pleased to share with its global readers a fantastic chart which sums up the gold market in one image.  The chart was sent to us from Egon von Greyerz, founder of Matterhorn Asset Management in Switzerland.  But first, here is what Greyerz said he is looking for in 2013:  “In 2013 I see the dollar falling and stocks crashing.  Initially investors will sell stocks and buy bonds.  Then, as the bond market starts falling and interest rates go up, they will sell the bonds and go into cash.”


Egon von Greyerz continues:  
“They will see that cash will not hold its value because of all of the money printing.  Interest will surge, and they will go into physical gold.  That will put enormous upward pressure on the gold price.
So bubble after bubble will burst....
Continue reading the Egon von Greyerz interview below...“In the meantime, governments are getting bigger and bigger, socializing countries and totally killing private initiatives and entrepreneurship. 
Turning to gold, Eric, Goldman is now bearish on gold.  Many times with Goldman when they actually publish their views that means they are looking to go long if they are not long already.  So they are telling everybody else to sell gold so they can buy it cheaply.
In the meantime, Morgan Stanley is bullish and UBS is bullish.  I actually talked to one of the top guys at UBS and he said he expects the shorts to cover in the very near future.
Looking at China’s production and imports of gold, that is just unbelievable in the last decade.  I’ve included a chart which shows a graph.  In 1980, they had 50 tons of imports and production, which was mainly production and no imports (see chart below).http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/12/7_Here_Is_The_Gold_Market_In_One_Fantastic_Chart.html
Ben Davies - Gold Shorts Are Now Exposed To a Price Spike
Today Ben Davies spoke with King World News about the shorts now being vulnerable to a price spike in gold.  He also discussed surging Chinese demand and supply troubles.  But first, here is what the rising star had to say about the action in gold:  “I actually think we are in and around the lows now, and the market will continue to stabilize here.  The other point would be that the fundamentals behind gold, in terms of mining supply, the cost of extraction, the grade degradation, this is a real issue.”


Ben Davies continues:
“You’ve had the CEO of Barrick saying, effectively, ‘gold extraction isn’t really economically feasible at these levels.  New supply isn’t going to come on until at least $3,000 (gold).’  So there really isn’t the supply.  China is a great example of where they’ve got desperate mining.  
In 2011 they had 360 tons of supply....
Continue reading the Ben Davies interview below...http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/12/6_Ben_Davies_-_Gold_Shorts_Are_Now_Exposed_To_a_Price_Spike.html