As Western investors flip-flop on whether or not gold remains a good buy, Eastern and emerging market investors have jumped on these low prices as an unprecedented buying opportunity. At this point, the data supporting physical precious metals demand is so great that it's easier to just list a few highlights from the second quarter of 2013:
- 53% more bullion was purchased worldwide this quarter than in 2012 year-over-year (YoY).
- Demand for gold jewelry worldwide grew 37% YoY.
·Global coin and bar demand hit a quarterly record of more than 500 metric tons.
- For the 10th consecutive quarter, global central banks increased their net gold reserves
(excerpt from the article "Gold Is Off To The Races")
Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.