PETER SCHIFF

PETER SCHIFF

Thursday, September 5, 2013

GOLD : Staggering Physical Demand

 As Western investors flip-flop on whether or not gold remains a good buy, Eastern and emerging market investors have jumped on these low prices as an unprecedented buying opportunity. At this point, the data supporting physical precious metals demand is so great that it’s easier to just list a few highlights from the second quarter of 2013:
    • 53% more bullion was purchased worldwide this quarter than in 2012 year-over-year (YoY).
    • Demand for gold jewelry worldwide grew 37% YoY.
    • Global coin and bar demand hit a quarterly record of more than 500 metric tons.
    • For the 10th consecutive quarter, global central banks increased their net gold reserves.

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

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