Gold going to $1500/oz, the opening statement as BNN talks gold with John Embry, chief investment strategist, Sprott Asset Management and in our humble opinion it is well worth your time to watch this clip, click here.
In Johns commentary he says that the silver fundamentals are better then those of gold and he expects silver to do better then gold despite being an avid gold bug. He also expresses some surprise at the amount of time Barrick Gold Corporation have taken to close their hedge book of nine million ounces of gold.
G20 are due to meet shortly so its not in their interest to have gold making extraordinary gains before the meeting as they will be telling the world that they have everything under control. Should gold move sharply higher then this could be embarrassing for them. It will be interesting to observe golds performance before the meeting and its performance after the meeting.
The meeting of the Group of 20 (G20) is planned to take place in the US city of Pittsburgh, which is scheduled for 24th and 25th September 2009.
As we write gold has just closed in New York at $1007.20 and silver has closed at $17.01, with green on the screens everywhere and the HUI up 12.67 to 432.34 you have good reason to smile so make it a big one!
The second half of this clip is an interview with Yale Simpson, executive chairman, Exeter Resource Corporation who have recently announced an incredibly large gold discovery, which you may also find interesting.
Have a sparkling day.
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