As we kickoff what promises to be a wild week of trading, today a former associate of George Soros just warned King World News that this is why the gold and silver markets are on fire today.
Victor Sperandeo manages over $3 billion, has been in the business 45 years, and has worked with famous individuals such as Leon Cooperman and George Soros. Below is what Sperandeo had to say.
August 28 (King World News) – Victor Sperandeo: “The reason the gold and silver markets are on fire today is because China’s stock market hit a new (roughly one-year) high today, and China is the big buyers of metals. So If you look at the action today, platinum is up $9, palladium is up as well, all the metals are all up…
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Victor Sperandeo continues: “The miners have led the way and the pattern is exactly the same as it was in early 2016 when gold, silver and the mining shares soared. Silver and gold have been lagging recently and they are now going to play catchup. But the Shanghai stock market hitting a fresh (roughly one-year) high is the reason why the gold and silver markets are on fire today.
US Dollar Warning & Why I’m About To Short Stocks
Also of importance is the fact that the US dollar is now signaling that the rate hikes are over. Meaning, the US economy is in trouble and there will be no more rate hikes. So the weakening of the dollar is exposing the fact that the US economy is deteriorating. That’s why I am looking to short the US stock market. When the downturn comes, it will be brutal.
“Leaders Around The World Are Failing”
And France has committed suicide by electing Macron. Europe is dead. Merkel’s approval rating is lower than Trump’s. She only has a 33 percent approval rating. So you will see Europe go down the tubes. In fact, Eric, leaders around the world are failing.
$1,500 Gold, $22 Silver & A Wakeup Call For The World
The bottom line is this will end in disaster and that is why I am looking to short the insanely overvalued US stock market. It has been a magic carpet ride since Trump’s election but it is about to come to an end. And I want to be perfectly clear about this, Eric, as the US stock market begins to plummet, the price of gold is going to quickly surge to $1,500 and the price of silver will move to $22. That’s why I am very long gold and silver ahead of the big downturn in the US stock market and a major wakeup call for the world.” Also, today King World News interviewed billionaire Eric Sprott who discussed skyrocketing silver and much more and you can listen to the remarkable KWN audio interview with billionaire Eric Sprott by CLICKING HERE OR ON THE IMAGE BELOW.
***KWN has now released the remarkable audio interview with whistleblower and London metals trader Andrew Maguire discussing the US propaganda surrounding Fort Knox, an update on the upcoming 250 tonne physical order for gold and much more, and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: Greyerz – The Clock Is Ticking…This Is When The Global Panic Begins CLICK HERE.
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