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Jurg Kiener of Swiss Asia Capital talks about paper precious metals market default and gold price spike
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Jurg Kiener of Swiss Asia Capital talks about paper precious metals market default and gold price spike

October 7, 2008 by · Leave a Comment
Filed under: Videos 

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This was a good video on CNBC about the Comex futures market and the possibility of some defaults on precious metals futures contracts because of increase physical demand of gold bullion, especially in the retail weights of 1 ounce gold coins and bars.  Jurg Kiener of Swiss Asia Capital said if this happens, we should see the spot price of gold to double in very short order, suggesting it would be in under 12 months citing how small the market is compared to other commodities like oil.  

Personally, I have talked to a bunch of bullion dealers and they have told me about the huge demand they are seeing and that they are to the point where they are starting to turn certain orders away because they are starting to lack confidence that the other bullion dealers and clearinghouses will be able to deliver as promised.  Watch the video and leave your comments below.

Video Link:

Jurg Kiener of Swiss Asia Capital talks about Paper Gold and Comex

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