“[There has been] 2,500 tons of net change in physical demand, in a 4,000 ton market on the supply side, which hasn’t changed in that 12 years…How did all of this happen with no increase in the supply of gold? It’s getting more extreme by the day. If I take today’s numbers, I think there’s probably a 2,500 ton shortfall of physical gold…I argue that there is 6,500 tons of demand and 4,000 tons of supply (each year), and the extra 2,500 tons is coming out of central banks that are leasing it. Imagine if they just stopped leasing it. Who knows where the price would go? You would get such chaos (disorderly upside trading in gold)…Who knows how high it’s going to go, but we’re not talking about just hitting a new high above $1,920. We’re looking at much bigger numbers.”
Eric Sprott: We Are Staring At Chaos & Collapse In Front Of Us – King World News
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