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Warren Buffett Could Buy Out All the Gold on the COMEX

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The gold and silver markets are small enough that any significant inflow of capital could push prices higher, this according to Jeff Clark, senior precious metals analyst of

“The gold market is so small that Warren Buffett could take less than 5% of his cash and buy every registered ounce of gold on the COMEX,” Clark told Kitco News on the sidelines of the Vancouver Resource Investment Conference.

Clark noted that investors should position themselves before money flows into the metals space.

“It doesn’t take much demand to drive the price higher. It doesn’t take much demand to crimp supply,” he said. “If you believe we’re going to have a silver and gold bull market, you want to make sure you’re buying now before any of those kinds of things happen.”

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