from King World News
Despite the pullback in silver, today a 50-year market veteran told King World News silver will outperform gold by a factor of 4 – 5 times.
John Embry: “I’m fascinated by the recent disconnect between the gold price and the HUI gold share index, which has now rallied over 80 percent in the last two months…
[…] John Embry continues: “Gold continues to meet considerable resistance in the paper markets, as the commercial short positions and the open interest on Comex have blown out to recent highs. However, at the same time shares continue to hold up relatively well.
The price action in gold in the period surrounding last week’s FOMC Meeting was ludicrous. After surging to a new high late in the week, prior to the meeting, gold was immediately driven down nearly $60 going into the meeting.