Egon von Greyerz von Matterhorn Asset Management AG answers Jan Kneist’s questions.
Gold very quickly reached a new high and entered unknown territory. This attracts new buyers, e.g. Warren Buffet, who has so far only bad-mouthed gold. A paradigm shift is taking place and trillions of dollars are looking for inflation protection. The gold buying panic that can currently be observed in Turkey will spread all over the world and with increasing money velocity, inflation will increase dramatically. Countries with a strong lockdown suffer the worst, including the UK and USA. Credit deferrals only buy time and solve nothing. The clock is ticking and day X is approaching. Buy important things now.