This was posted on Zero Hedge last night. Along with the last week's rise in the PM's could this be the start of mainstream demand...
Per Bloomberg: "The University of Texas Investment Management Co., the second-largest U.S. academic endowment, took delivery of almost $1 billion in gold bullion and is storing the bars in a New York vault, according to the fund’s board."
For mainstream demand of gold bullion to begin there has to be a loss of confidence in paper assets. If others, especially 'conservative' investors like pension and education funds, move quickly to get gold, then the undermining of confidence may well happen. We will know if that's happening when the defenders of paper assets start throwing up blockades and serious propaganda against PM investments. They are a powerful lobby and may well get congressional involvement in saving their game. If a tipping point has been reached they may not have time. If it hasn't, then IMO, there will be a fight to bolster paper asset investment.
Well we're one down so far and who knows how many will follow. Looks like they put about 5% of assets into gold which is the minimum suggested by many gold proponents. There is not enough gold at current prices to support a return to 5% level of assets, globally as the following chart shows.
Now if they have the sense to buy gold I expect they will also have the good sense to move it from the current location in the HSBC (Comex) vault.
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