John Embry continues:

“I guess I’m never satisfied with gold even though it’s up over $60 this week.  I think gold should be up a whole lot more than $60.  I thought it would take a Greek settlement to get gold moving because as long as it looked like Greece might fall apart they were suppressing the price like mad.  So the suppression is still going on, but now it’s being overpowered by the strength of demand.

Now some of the pressure has come off of the price and the buyers are getting the upper hand here.  The fact is the smart money has been buying gold all along.  If they start to think the price is getting away here, they will become more aggressive rather than waiting to buy.   I don’t think the general public gets in, until gold clears $2,000 and maybe even higher.  At some point people will be forced to talk about it....

Continue reading the John Embry interview below...  


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“I was in the gym when I was in New York a couple of days ago and I never watch CNBC because I hate it, but it was on so I couldn’t avoid it.  The list of people talking, I mean they were rambling on about all of this garbage.  Gold was never mentioned, even though it was the strongest thing on the board.

I think the real grinding fundamental is the necessity of the powers that be, in every major economic entity in the world, to keep creating more and more liquidity to fend off a deflationary collapse.  As more and more people realize this reality, they will go to gold and silver.

To get the real sentiment change, gold may have to make new highs, but that’s only $130 away or about 7% higher.  Corrections will happen but gold will remain in an upward thrust as it has for the last eleven years.”

When asked about silver specifically, Embry responded, “Silver has moved above $35 and that’s a big number.  If silver can hold $35 and move on from there then I think we can challenge the old highs fairly quickly.  The resistance that silver has met in the last six months has been stunning.

Silver is a classic case.  You know Eric Sprott and I, we love silver.  The very fact that the public can’t grasp the fundamentals is a testimony to how effective the other side is at lying to them.  Once silver clears the $35 to $37 level, it will move quickly into the $40s.

Once it starts to really gain a head of steam, the very lack of positive sentiment could change quite abruptly.  The other thing that’s hurt silver is the fact that the Dow goes up day after day.  The bulk of the public is focused on what the mainstream is promoting and it’s doing well, I think it detracts from gold and silver, which is where investors should be.”

When asked about the move in crude oil, Embry replied, “Crude oil is a geopolitical play and heaven help us if we get a really serious development in the Middle-East.  There are so may things that can go wrong there.  But if that happens, if something really bad happens, oil will hit $150 easy.”

If you missed John Embry’s last audio interview, it was tremendous and you can listen to it by CLICKING HERE.

© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.

Eric King

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© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast,

rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.

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