by Chris Waltzek
Chris welcomes back, John Embry, Senior Strategist at Sprott Asset Management, – he shares his outlook on the precious metals sector. News that gold was higher by 16% in the first quarter unnerved the central bank cartel, sending shockwaves through their ranks. On the contrary, US equities appear wildly overvalued, despite constant support from government officials. He cautions investors on US stocks – new purchases may not be warranted. Nevertheless, the PMs equities indexes HUI / XAU remain robust; the PMs shares tend to lead the underlying PMs higher. While the 80% advance in the HUI may seem excessive, the covering of billions of ‘naked’ shares, shares created out of thin air by big institutions, could support higher prices.