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.

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….

“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

“This Will Trigger A Tidal Wave Of Short Covering In Gold”

With Ben Bernanke ready to deliver his semi-annual monetary policy report to Congress starting today, a legend in the business warned King World News about what is going to “trigger a tidal wave of short covering in gold.” Keith Barron, who consults with major companies around the world and is responsible for one of the largest gold discoveries in the last quarter century, also spoke with KWN about the massive global demand for both gold and silver and what he is directly experiencing in the marketplace.

Barron: “Right now I am focused on the gold price. We are up over $100 off the lows on gold and silver has broken through $20. All of this is thanks to Bernanke, who shot himself in the foot yet again with talk about tapering QE again. This trashed the stock market briefly and had spectacularly chaotic consequences in the bond market as well….

“Anyway, the net effect was this caused a tremendous amount of disruption in key markets and I think he was chastised for that. So he came out with a speech and it was a complete turnaround from the FOMC minutes. The 180 degree turn was, ‘all systems go, and keep the printing presses going.’

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/7/17_This_Will_Trigger_A_Tidal_Wave_Of_Short_Covering_In_Gold.html