from King World News
With the gold market consolidating gains after the biggest year-to-date move in 36 years, which has caused investment demand for gold to surpass jewelry demand for the first time in history, what is happening around the world is clearly scaring the hell out of people.
Eric King: “We have negative yields obviously in many parts of Europe, but were you surprised to see investment demand for gold outstrip jewelry demand for the first time in history the past two quarters?”
Peter Boockvar: “I’m not surprised because I think a lot of people like us see what’s going on in the world and it scares them. When you see a German bank a couple of weeks ago saying that they are going to start charging depositors of more than 100,000 euros a fee of up to 40 basis points, which is where the ECB has their negative deposit rate, then that’s scary to people.”