Physical Gold Demand May Now Overwhelm The Manipulators!
- Physical Gold Demand May Now Overwhelm The Manipulators!
Today John Embry told King World News, “I won’t be really excited in this market until we see a $100 up day, and I think that’s coming sooner than most people realize.” Embry also stated, “… as physical demand accelerates, availability is declining, and that bespeaks higher prices.”
Here is what Embry, who is Chief Investment Strategist at Sprott Asset Management, had to say: “The people on the long side have figured out the game and they know the wind is at their back. So when one of these raids is staged, there is just a wall of buying lined up at a certain place, and that’s why these declines stop and then they reverse quite quickly.”
“The other factor that has to be acknowledged is the physical market for gold is getting very tight. The central banks in the West have probably gotten rid of most of what they can afford to get rid of, and there’s no other obvious source. Even the mining, with what’s going on in South Africa with the strikes, what’s coming out of the ground is actually lower than what it would have been a year ago….
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