With so much worry surrounding the gold and silver markets, today King World News interviewed legendary Pierre Lassonde, to get his thoughts on what to look for going forward. Pierre is arguably the greatest company builder in the history of the mining sector. He used to run Newmont Mining, was Chairman of the World Gold Council and is current Chairman of Franco Nevada. When asked about the plunge in gold, Lassonde responded, “There’s no cliff here. There’s no need to panic whatsoever. First of all, let’s take a look at where we came from. We came from $250 ten years ago, to $1,600 to $1,700 today. That is a remarkable feat for the gold price.”
Pierre Lassonde continues:
“The mania phase is always the last phase of a bull market. I believe we are going to see that. I (also) believe it will mostly be of Chinese origin. Today over 50% of all of the gold sold on a yearly basis is sold in two countries, China and India. The is where it (the mania) will start.
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