Econintersect Precious Metals Digest: Earlier this week, Econintersect posted Banks Crumble While Next Leg Up For Gold Prices Draws Near. Today, John Embry, Chief Investment Strategist of the $10 billion strong Sprott Asset Management stated:
“We are moving toward a fundamental shortage of gold, and I believe it may start as soon as next month. The problem now is that the global economy is contracting at a time when the debt levels are catastrophically high.”
Also, it has been reported that the London Bullion Market Association’s (LBMA) price fixing scheme is coming to an end.
Read More on Source of Gold Shortage:
Today John Embry stunned King World News when he warned, “We are moving toward a fundamental shortage of gold, and I believe it may start as soon as next month.” Embry also cautioned, “The problem now is that the global economy is contracting at a time when the debt levels are catastrophically high…
Gold prices firmed up further at the domestic bullion market today on sustained stockists’ and investors’ demand on the back of forthcoming festive seasonal off-take, despite bearish global cues.
The metal remained firmly underpinned near $1,575/oz on Tuesday as weaker-than-expected German economic data put fresh pressure on the Euro.
As traders shift to a deflationary outlook so many have been distancing themselves from gold mining and bullion ETFs.
With continued uncertainty in global markets, today King World News interviewed 25 year veteran Caesar Bryan. Gabelli & Company has over $31 billion under management and Caesar Bryan has managed the gold fund since its inception in 1994. Here is what Ceasar had to say regarding the ongoing financial crisis: “This has been sort of a slow-burn crisis…
Earlier this month, Greece’s highest administrative court issued a provisional order suspending tree-cutting at Eldorado Gold’s mining project in Halkidiki, north of the country.
With many global investors still concerned about the recent price action in gold and silver, today King World News interviewed the “London Trader” to get his take on these markets. The source told KWN that “… the LBMA’s price fixing scheme is coming to an end.” The source also said that because of this, the eventual “move in gold and silver will literally frighten most people…
Today 40 year veteran, Robert Fitzwilson, wrote the following piece exclusively for King World News. Fitzwilson is founder of The Portola Group, one of the premier boutique firms in the United States. Here are Fitzwilson’s observations: “Scylla and Charbydis were mythical sea monsters. Lying off the coast of Italy, Scylla faced across the Strait of Messina, at Charybdis, lying along the Sicilian coastline…
In what it describes as the biggest single contract won by the Ausdrill Group, the Australian company has secured a $540 million mining services contract for the Syama gold mine in Mali.
Today Egon von Greyerz told King World News, “The world is simply drowning in debt.” Greyerz, who is founder and managing partner at Matterhorn Asset Management out of Switzerland, also said, “This is why it is guaranteed that governments will print money,” and that “Prices of hard assets will go into the stratosphere…
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