CNBC invited Michael R. Haynes, APMEX CEO, to give his expert opinion about Gold demand in the global economy on 6/23/11; the central banks are buying Gold instead of selling Gold.
Online PR News – 29-June-2011 – – Michael R. Haynes, CEO of The American Precious Metals Exchange (APMEX,) pointed out that central banks in the world have currently stopped selling Gold into the marketplace and have started buying Gold. Central banks across the globe buy Gold to back up their currency values during times of economic crisis, geopolitical unrest and sovereign risk. Watch the CNBC interview with Michael Haynes here: Gold Demand.
“When we examine the top Gold holdings at the six largest central banks, we find that the United States holds more Gold as an investment than other countries,” stated Haynes, "But when you compare a country’s Gold holdings to the size of their economy, the ratio of U.S. Gold holdings per trillion dollars GDP is relatively small in comparison to the ratios of other countries’ investment in Gold. For example, Switzerland holds three-and-a-half times the amount of Gold per trillion GDP. That’s why the Swiss Franc, for example, is always thought of as a very stable currency."
Due to the increased interest and demand in the global market for Gold as an investment option, APMEX is shipping more Gold this year than last year to customers in the United States as well as 23 foreign countries. New customers can register for a free account online at www.APMEX.com.
Michael R. Haynes is a 30-year veteran of the precious metal and rare coin markets. He has served as a board member, president, COO or CFO of nine different public and private companies engaged in the specialty retail, distribution, e-commerce and manufacturing businesses.
APMEX is one of the world’s largest and most trusted online precious metals dealers located at www.APMEX.com and at mobile.APMEX.com. APMEX was created to serve as a source where investors could diversify their portfolios with Gold, Silver, Platinum and Palladium at competitive prices with the convenience and security of the Internet and private delivery. APMEX prides itself on educating investors and allowing them to make their own investment decisions.
• APMEX maintains one of the world’s largest selections of precious metal and semi-numismatic items available on the Internet, including the popular Gold and Silver American Eagle Coins, and the Gold and Silver Maple Leaf Coins.
• APMEX provides Gold and precious metals access with the Internet to every individual investor around the world who seeks a balanced investment portfolio.
• APMEX serves thousands of customers with 401K and IRA approved precious metal investments.