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25% of physical gold buyers are crazy, metals executive says
At least they haven't been charged by the government of Quebec with tax fraud:
http://business.financialpost.com/2013/12/09/kitco-metals-among-gold-tra...
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From CNN, Atlanta
Thursday, February 12, 2015
A lot of people who buy bits of physical gold aren't looking to make a bracelet or ring. They buy gold because they believe disaster is imminent.
These investors are convinced gold will spike to $10,000 an ounce (it's currently around $1,225) when the U.S. government implodes, said Peter Hug, an executive at metals retailer Kitco.
Hug calls these people "crazies" and says they form a substantial amount of the U.S. physical gold market -- at least 25 percent. ...
... For the remainder of the report:
http://money.cnn.com/2015/02/12/investing/buy-gold-market-fear/
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