Now this conversation will be taken from the different perspective. DOW crashed 460 points intraday today so far and all assets will be re-priced now dramatically. Risk is out there and it not only depends on FED's mood.
Gold Imports by India Seen Rising More Than Fourfold Last Month.
"Bloomberg reports that demand for Gold in India has surged up to 95t in September and there are some estimates that it could be as high as 115t. Today during the morning Ebola panic DOW has crashed 370 points and Gold has surged to $1250. Nobody knows the future, but one observation is almost for sure: the risk calculation is totally distorted by the ZIRP FED actions and any external event out of FED's control, like Ebola scare (which is very unfortunate), can bring the very fast repricing of assets' prices. The cure will be all the same - QE4 buzz is more and more aloud now.With India back into the Gold market and China buying almost all produced Gold out of China, Switzerland referendum is the real wild card, which could ignite the run on physical gold deliveries. Read more."
Swiss Gold Initiative Referendum to Acquire 1500 tons of Gold.
"On November 30th, the 8 million citizens of Switzerland will vote either YES or NO in an opportunity to determine the fate of their own financial system. On the ballot will be three matters which would effectively make Switzerland the first country in the world with an official partial gold-backing of their currency. Citizens will vote on:
1) Returning their national gold which is held abroad back to Switzerland
2) Requiring the Swiss National Bank to hold 20% of their assets in physical gold
3) Prohibiting further gold sales
What will a “YES” vote mean for Switzerland and gold? Watch the videos."
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