With shares of Apple soaring, stocks trading higher and gold near the $1,640 level, today King World News interviewed John Embry, Chief Investment Strategist of the $10 billion strong Sprott Asset Management. Embry told KWN the key economic release in the US today was materially worse than expected. Embry also discussed gold and the mining shares, but first, here is what Embry had to say about the deteriorating situation in the United States:
“It was a surprise to the experts who had forecast this (durable goods orders) because it was materially worse than the Wall Street projections, which were estimated to be down 1.7%, and they were (actually) down 4.2%. This is the largest decline since January of 2009.”
If you want to read what John has to say then please click here.
However, we reckon the audio is one of the best that we have heard for some time so if you can, give it a listen, please click here.
And finally, well done to Eric King for providing such an informative and professional service.
Have a great day.
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