But it’s only the beginning, explains Auryn Resources executive chairman Ivan Bebek in an interview with SGT Report, as nation states and large investors are trying to get their hands on gold as fast as they can:
Before any big move in gold we have always seen extreme volatility or volatility pick up. This was just a taste of what’s to come in the next few years… We’ll look back at this and be reflecting on how minimal this move was compared to what’s going to happen as we go forward…
It’s a smart money trend… they can see where their countries are going… where the world economy is going… it’s surprising how late they are to the party… late to a very small door to get a bit of gold that’s out there… it’s going to be a remarkable reaction when that all comes to fruition. They’re just positioning themselves for what’s to come and that’s what they have to do. And getting back into the gold trade, the gold business and hoarding gold… they’re doing that because they see a very big gold market coming ahead like the rest of us……….
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This is the start of the turn and it’s a very small door, meaning there are very few gold investments to make. In a few years there will be hundreds of gold companies like ourselves, or even thousands like there were before.
But that first wave is where all the money is made. You can go back to 2002 – 2004 and you look at the first wave and you look at what happens when gold starts to move… what happens to gold equities… the 100%, 200%, 1000%, and 10,000% returns… those all can happen from this point forward.
It’ll be the place to put your money. At the same time, the early few years will be where most of the money is made percentage-wise.
What we saw in London a couple of weeks ago was a microcosm of what’s to come. Though there remain those like former Federal Reserve Chairman Ben Bernanke who say central banks and governments buy gold not because it’s money but because it’s tradition, that narrative, says Bebek, has fallen apart:
Five or six years ago they got onto that page, but now they can no longer say it. When you have China, Germany, Europe and all these world economies believing that it’s not a tradition… that they need to own it as a currency… it doesn’t matter what they say because the demand is so big worldwide… actions are bigger than words… the world is hoarding gold… they’re starting to go long gold… so that defeats the whole argument they have been making.
We know for a fact that the smart money including major global players like George Soros and Carl Icahn are gobbling up all the gold they can get their hands on. When the rush for the exit in global equities starts – and you better believe it will – there will be an equally panicked rush into safe haven assets.
We literally saw how small the door was as people lined up to get their hands on physical gold. Now imagine, as Auryn Resources’ Ivan Bebek noted, what that line will look like on a global scale and what it will do to gold prices.