John Ing, who is connected to high-level people in China states, “… Basel III is fueling massive central bank gold buying.” Under Basel III, gold can be margined at 100%, which is causing a demand for physical gold by central banks. Besides the central banks, Russia and China are buying gold, especially on pullbacks.
Russia is now the 5th largest holder of gold in the world and has dumped US Treasuries. Even though China is the 6th largest holder of gold and the largest producer of gold in the world, they continue to import gold.
As the dollar continues to be devalued, many countries are buying gold.
As the dollar weakens and economic uncertainty rises, we at Eagle European Capital, LLC (EEC) are in agreement with the central banks and numerous countries that are purchasing gold and silver. Owning a tangible asset such as gold and silver coins and bullion, and keeping it in your personal possession, provides protection because it is wealth that can be stored and transported.
Prices are attractive and availability is good. Contact us today at 817-825-2036 for your FREE CONSULTATION.