On CNBC Europe, Turk cites flight to gold in handSubmitted by cpowell on Sat, 2009-10-10 15:50. Section: Daily Dispatches
10:44p CT Saturday, October 10, 2009
Dear Friend of GATA and Gold:
GoldMoney founder and GATA consultant James Turk was interviewed for about four minutes Friday by CNBC Europe and explained gold's recent rise as a "scramble for physical metal." Turk noted that gold's price has risen sharply without a sharp increase in holdings by the major gold exchange-traded fund. He argued that since the financial system is so vulnerable, investors want to avoid counterparty risk, and only holding real metal achieves that. Turk's interview at CNBC Europe is headlined "Gold Pushes to New Highs" and you can watch it at the CNBC Internet site here:
Gold Anti-Trust Action Committee Inc.