With gold and silver on the rebound, today King World News interviewed John Embry, Chief Investment Strategist of the now $9 billion strong Sprott Asset Management.
When asked about gold breaking out in Euros and the Pound Embry stated, “I think it’s very significant. I mean the fact that they held it (gold) in Euros there for weeks, but now I think the problems in Europe, in the periphery are becoming so apparent and the anger is starting to really rise to the surface, they are basically spurring buying in these countries.”
So the Russell crystal ball says, "Prepare for the summer doldrums (maybe even a slump), and then be ready for an economic revival in the fall and into 2012. Also get ready for all-out inflation as the Fed steps on the QE3 accelerator in late 2011.
I think the gold action goes along with the above scenario. Why take profits or sell your gold, when the real move in gold is slated for 2012 and beyond?
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