The Phaserl


No Significant Capital Flows Into Gold From So Called ‘PIIGS’ Yet

from Gold Core:

GoldCore have been very busy on the sell side in recent weeks which suggests we are close to a bottom. This week was the first week in three where there were more buyers than sellers.

There were a lot of new account openings after the Cyprus crisis began and in recent days, particularly from Spain and Italy, but there have been no huge flows into gold and nothing on the scale of the Lehman panic.

There are real and growing concerns out there among the European public but as of yet the mass of retail and savers and investors are not concerned enough or more likely not aware enough to diversify into gold.

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