Today one
of the top CEO’s in the world told King World News that going forward, “... we
will see increasing central bank demand for gold.” He also warned, “We will (also) see reduced
supply.” Sean Boyd, who is CEO of $8
billion Agnico Eagle, also discussed why the gold price is set up to frustrate
the bears by nearly doubling from current levels.
Here is
what Boyd had to say: “We are just
looking at further stimulus, this time coming out of China, where they are
looking to spend over one trillion dollars on stimulus projects to try to boost
the economy. This takes us back to late
2008, when the powers that be were trying to sort out the financial crisis.”
Sean Boyd
continues:
“The answer
was more stimulus, and at the time gold was $700. Gold went from $700, on the back of that
stimulus (in 2008), to $1,900. I think
we are about to repeat that same pattern.
Here we are, gold is at (roughly) $1,600, and there are a lot of
question about the weakness in the global economy. There are certainly expectations that we are
going to see a renewed round of stimulus coming out of Europe and the US....
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