February 12, 2015
THAT ESTIMATE SEEMS LOW:
25% of physical gold buyers are crazy, metals executive says (Matt Egan, 2/12/15, Money)
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%.
And they're 100% of the Ayn Rand readership.
Posted by Orrin Judd at February 12, 2015 4:40 PM
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