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Mike Kosares: Reflections in a golden eye
10:04p ET Sunday, June 22, 2014
Dear Friend of GATA and Gold:
With his new essay, "Reflections in a Golden Eye," Centennial Precious Metals proprietor Mike Kosares provides a wide-ranging and even profound review of where gold has been in recent years and where it's likely to go.
Kosares writes:
"There is a movement afoot among central bankers and high-profile economic thinkers of profound interest to gold owners, simply because it will play such a significant and direct role in physical gold demand over the coming years. That movement has to do with the inclusion of gold in central bank reserves -- not necessarily as backing to their currencies but as a reserve asset to balance and hedge the risks of holding foreign exchange. Diversification is the mechanism at work in the transition of central banks from net gold sellers (and lessors) to net buyers, just as it is for the attuned private investors. That blueprint in my estimation is the future of official-sector participation in the gold market."
Kosares also has some kind compliments for GATA.
"Reflections in a Golden Eye" is posted at Centennial's Internet site, USAGold, here:
http://www.usagold.com/cpmforum/2014/06/22/reflections-in-a-golden-eye/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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