Real Gold Heads East … Far East
Lost in all the fuss about gold prices is the fact that there is strong demand for physical gold worldwide, especially in Asia.
By Ed Moy
“Many investors in the Western Hemisphere, namely the United States and Europe, abandoned their positions in gold derivatives like exchange-traded funds (ETFs), short contracts and futures for potentially greater gains in the stock market. As a result, ETFs and other financial institutions have sold off a big chunk of their excess physical gold inventories.”
“These investors have long favored physical gold — in coins, jewelry, ingots and bars — due to their history with unstable governments and weak banking systems.”
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