Good gold quotes:
"[I]n 1980 the only players were the Americans, they were essentially the only players in the gold market, or the dominant players. Today the dominant players are China and India, 58% of all the gold sold this year will be sold in these two countries. So they are by far the dominant players and as I've said the Chinese love gambling. When we reach that phase (the mania) I told you and I will tell anyone who wants to listen, watch out because it will truly make your head spin."
Pierre Lassonde, famed mining entrepreneur
"Record high prices won't scare away [Chinese] investors, Investors are likely to chase the rally and continue to buy gold because paper money feels increasingly worthless and they are worried about inflation."
Shi Heqing, Antaike - China state-backed metals consultancy
"A close above $1,600 on gold, similar to silver closing over $40, would create a huge bunch of short-covering. The commercials have been adding short positions in gold, but should we get a close above $1,600, I think you will find the smaller of those shorts are going to start covering their shorts because it's going to be too much pain. This could result in a $50 move overnight."
Anonymous London gold trader quoted at King's World News
"One of the big US banks texted me today to say that if QE3 actually happens, . . We could see gold at $5,000 and silver at $1,000. I feel terribly sorry for anybody on fixed incomes tied to a fiat currency because they are not going to be able to buy things with that paper money."
Peter Hambro, chairman, Petropavolsk
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