from Gold Silver Worlds:
In this TV appearance, Bloomberg’s Kenneth Hoffman reports on the most important development in the gold market in 2013 and what to watch in 2014.
About the massive transfer of gold from London to Hong Kong in 2013:
“You could go into a vault in london a couple of years ago. The vaults were packed to the rafters with gold, and the gold would trade from me to you to somebody else. You can walk into those vaults today and they are virtually empty. All that gold (26 million ounces) has been transferred from London and has gone to Switzerland where it has been recast to higher grade formats and shipped off to Hong Kong and then to China never to return.”
What to watch for in 2014:
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