Today billionaire Eric Sprott told King World News that central banks are panicking as the whole world is buying gold here, including Druckenmiller.
Eric King: “King World News was the first news organization in the world to report that multi-billionaire Stanley Druckenmiller had bought back his gold position and today (two days later) Bloomberg news confirmed it. What are your thoughts on Druckenmiller buying back his gold position?”
Eric Sprott: “When Druckenmiller sold his gold, which turned out to be great timing, I never subscribed to the thesis of why he sold it, although it was correct (in terms of timing). I had been wondering lately, is this guy going to come back in here? I was wondering that simply because of all the uncertainty with U.S. politics and what’s going on in Europe, Japan and China With that as the backdrop you would think he would want to own gold. So I was quite pleased to see him stepping back in and I think it’s a leading indicator of how other mainstream people are thinking.”
gold is holding up pretty well at moment, lets hope that this rally can continue....
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