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« Randgold Resources to remain dividend-driven midtier producer | Main | Every Picture Tells a Story: Gold Prices »
Thursday
Mar072013

John Embry: Pressure on Gold, Silver Likely Artificial – Investor’s Digest

“The suppression of gold and silver prices – something that’s increasingly obvious – is having a healthy impact on physical demand for both metals. China…became the world’s biggest gold-producing nation, keeping total output iwthin its own borders. China then embarked on an external buying program which saw it import nearly 800 tonnes of gold in 2012 alone. Elsewhere, India’s appetite for gold and silver is so strong that the government is trying to discourage demand to try to protect the country’s current account position. No one should be surprised by these developments. When the price of anything is artificially suppressed, demand for it will rise.”

Read this article here.

 

With gold, silver and Uranium stocks being out of favor one must decide if this is a problem or an opportunity. We have steadfastly refused to buy gold and silver mining stocks for the last two years and as evidenced by the HUI we feel that our decision to hold back has been vindicated. The damage done to the mining sector may not be over yet but this demise is starting to offer up some exciting opportunities in my view.

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Reader Comments (2)

Don`t you just love John Embry? Of all a the Sprott guys he is the most blind to the current bear market in precious metals. Recently his collegue Rick Rule has said it is a bear market and that many juniors will go to zero in value. In his latest interview Sprott has said that prices are being held back by bullion banks flooding the market with physical to hold the price back. It is amazing how these guys always have an excuse for poor analysis of the market . There again they are running a special metals business so they have a vested interest .
Embry`s article is a month old . He speculates that there is a shortage of silver at the bullion banks in the UK. There is not, neither is there in gold .You can get delivery easily and quickly. I live there and have done so.

March 8, 2013 | Unregistered Commentersilver bug

Thanks for the insight - there is no shortage of conflicting data thats for sure.

March 8, 2013 | Registered CommenterGold Prices

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