Chinese Imports of Gold are Massive Right Now

Today Egon von Greyerz told King World News that although Italian banks are currently under attack, pressure will make its way into Portugal and eventually the UK as well.'' Egon von Greyerz is founder and managing partner at Matterhorn Asset Management out of Switzerland.'' Von Greyerz also said he is seeing large money flows into gold, and over in Asia, Chinese imports of gold are 'massive.''' But first, here is what Greyerz had to say about the action in gold:'' 'We are going sideways at these levels, but I'm still of the opinion the next move, in coming weeks, will be to the upside.'' The news flow that is coming out every day continues to reinforce our position.'