27-2-2011 Gold outlook .

26-2-2011
Nick Barisheff – Canadian Gold Expert

Finally, as a direct result of world-wide debt and currency debasement, more people will be competing for the world’s available gold. We discussed peak oil, but gold is also reaching a peak as fewer and fewer new deposits are being found. Smaller, lower grade deposits with none of the “economy of scale” benefits of larger deposits are being put into production out of desperation. Mine supply has been in a decline since 2000.
As safe haven demand accelerates, there will be a transition from the $200 trillion of financial assets to about the $3 trillion of above ground gold bullion. Of the $3 trillion of above ground gold bullion, about half is owned by central banks and half is privately held. The privately held gold is largely held by the world’s richest families and is not for sale at any price. The central banks are now net buyers. If the world’s pension funds and hedge funds moved only five percent of their assets into gold, which these days seems quite conservative, gold would trade above $5,000.

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