Wednesday, August 29, 2018

Eric Sprott: Everything I See In The Physical Markets Is Very Optimistic

“I think of all these people who live in all these countries where their currencies are getting hammered, whether it’s the Brazilians, the Indians, the Turks, the Iranians. 

We’re getting more and more people all the time, all of whom have a disposition towards gold anyway. And I read this morning that the Asian demand is very robust. 

Well, you know what? I’d expect it to be robust. I mean, the Indians consume 1,000 tons a year out of roughly 3,000 tons mined. What happens if all of a sudden they’re witnessing their currency weakening? 

They buy 50% more. My God, the effect on the physical market would be astounding!”

- Source, Sprott Money