The Price Of Silver Is Set To Soar As Inventories Collapse

With continued volatility in global markets and oil still trading near the $106 level, today John Embry told King World News the price of silver is set to soar as inventories continue to collapse.  Embry also spoke at length about the gold market.  Below is what Embry had to say in this powerful interview.

Embry:  “I am becoming far more comfortable with the gold and silver markets after what can only be construed as an extraordinarily ugly few months.  These violent takedowns in the paper market, which bore no relation to what was going on fundamentally, have discouraged so many people.

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I guess price action is the thing that drives them crazy because people then start to doubt the fundamentals.  But what I see now is very promising….

“I see falling gold inventories almost everywhere.  We have seen how much gold has come out of the ETFs, and how much the COMEX inventories have shrunk.  And the gold that JP Morgan holds for its customers in its own accounts has also dwindled.  All of this is a precursor to a much higher move in the gold price.

At the same time I am getting extremely excited about silverEric Sprott’s revelation about all of the silver going into India because of the difficulty in that country obtaining gold due to official impediments, I think it’s a classic case of unintended consequences on the part of the Indians.  The last thing the silver market needs is a huge new demand source in terms of trying to keep the price under control.

I am also seeing that JP Morgan is feverishly trying to acquire as much physical silver at the same time they are reducing their paper short position.  So I don’t think we have much longer to wait for a real explosion in silver prices.  And if I’m right on both gold and silver, this will be seen as the single finest buying opportunity in the entire bull market which is now in its 13th year.”

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/7/16_The_Price_Of_Silver_Is_Set_To_Soar_As_Inventories_Collapse.html

Silver To Eclipse $100 On Skyrocketing Chinese Demand

With gold and silver rebounding, today acclaimed money manager Stephen Leeb told King World News that silver is now setting up to eclipse $100.  Leeb believes that China, which has been the primary driver in the gold market, is now going to push the silver price over $100 as their consumption of physical silver is poised to skyrocket.  Here is what Leeb had to say in this powerful and exclusive  interview.

Leeb:  “We are seeing massive demand for photovoltaics out of both Japan and China.  We are also continuing to see massive demand for silver in the Middle-East for this type of energy infrastructure as well.  Eric, KWN readers need to understand that the demand for silver is literally set to explode because of the enormous increases in demand for physical silver because of photovoltaics….

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“While all of this is happening, the mainstream media is saying that China is about ready to fall apart.  But the reality is that China plans to urbanize a remarkable 200 million people over the next 10 to 15 years.  Well, the cost is roughly $50,000 per person.  So China is going to be spending a massive amount of money for materials — copper, lead, zinc and especially silver.

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/7/16_Silver_To_Eclipse_$100_On_Skyrocketing_Chinese_Demand.html

The Fed Has Set America Up For Disaster

On the heels of continued volatility in key global markets, the Godfather of newsletter writers, Richard Russell, discussed gold at length and also warned that the Federal Reserve has set America up for “disaster.” This is a fantastic piece where Russell notes the gold market may be ready to roar as physical gold is continuing to be drained from the COMEX.

Richard Russell: “Everybody knows that the US has an almost unsolvable problem with debt. Let’s call it a predicament, since there is no way of solving the debt problem in an acceptable way (I mean in a politically acceptable way). Of course we could declare sovereign bankruptcy — or we could turn to hyperinflation and literally inflate our way out of the debt-trap. But neither would be acceptable or politically possible.

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But before the predicted disaster, you can be certain that the coming trouble will be sensed and registered in the price of something. It will show in the price of stocks or gold or bonds or the dollar. In other words, it will show somewhere in price.

What about the bond market — isn’t the bond market now saying, “trouble ahead?” In my opinion, not yet. True, bonds have taken a beating in recent months, but I don’t call the decline in bonds, so far, a red-flag prediction of disaster … And the stock market continues to rise, probably based on the current ocean of liquidity.

How about gold? Ah, gold may be about to raise the red alarm-flag. But not quite yet. As a personal opinion, I believe gold has now put in a major bottom. Wait — what about price? Ah, there you’ve got me. Even if a bottom has been put in, we have not yet seen the “meat.” The price of gold has not yet started to boom. It’s one thing to say that you believe “the bottom is in,” but it’s another thing to see the item surge off its low.

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/7/15_Richard_Russell_-_The_Fed_Has_Set_America_Up_For_Disaster.html