Asian Gold Rush? – "For Pete’s Sake" w/Peter Hug of Kitco.com

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Kitco News talks with Peter Hug about demand for bullion in Asia, Deutsche Bank’s new storage facility, and China’s gold-backed ETP. According to Hug, the Asian markets are still buying precious metals and this is the reason Deutsche Bank opened a storage facility in Singapore. Hug also discusses the new Chinese ETP and how it shows the Chinese want to hold physical gold; they don’t trust paper assets. The Chinese ETP will allow for diversification from the dollar. Finally, Hug discusses the Yen and its implications on gold prices. Kitco News, June 11, 2013.

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