With gold and silver plunging, today King World News interviewed legendary Jim Sinclair’s chartist Dan Norcini. Norcini told KWN that sell-stops and fresh speculative shorting are putting short-term pressure on both gold and silver. Here is what Norcini had to say: “Eric, the reason gold is getting hit so hard and by consequence silver as well, has to do specifically with the action in the bond market. To start the year, I told KWN readers and listeners the most important market in 2012 was going to be the bond market. The bonds have had a massive breakdown.”
Dan Norcini continues:
“A huge amount of selling has entered the bond market. Bonds had a big down day yesterday and we have had an even bigger debacle today, particularly on the long end of the curve. The ten year rate is now up to 2.25%, it’s up 7.4% today alone
MORE
14 March 2012
Embry - Gold & Silver Manipulation, Greece, Oil & Contagion
With continued volatility in gold and silver, oil holding above $106 and ongoing worries about the Greek CDS situation, today King World News interviewed John Embry, Chief Investment Strategist of the $10 billion strong Sprott Asset Management. Embry told KWN contagion in Europe is a major risk because of the situation in Greece, but first he had this to say about gold, silver and oil: “Jim Sinclair hit it on the head the other day when he said the central banks are scared stiff of the gold market because of their very aggressive monetary policy. They can say anything they want, but they have no choice but to follow quantitative easing to infinity. The amount of money they will create will be astounding.”
John Embry continues:
“Eventually the gold market is going to realize this and it’s going to go berserk, but in the meantime the central planners can use market manipulation to keep a lid on gold. I guess it’s discouraging in the short-run, but in the long-run it means nothing.
MORE
John Embry continues:
“Eventually the gold market is going to realize this and it’s going to go berserk, but in the meantime the central planners can use market manipulation to keep a lid on gold. I guess it’s discouraging in the short-run, but in the long-run it means nothing.
MORE
Richard Russell - More QE After 40 Year Monster Bubble
With gold trading near the $1,700 level, today the Godfather of newsletter writers, Richard Russell, had this to say in his latest commentaries: “I have been writing my ‘stuff’ for about 54 years. They say that you can't teach old dogs new tricks, but I'm an old dog and I’m still learning. Many people in this line of work ask me how in the world I stay in business. I tell them, I really don't know, I write about what's on my mind, and most subscribers evidently like it.”
Richard Russell continues:
“There are more things on this earth than money and profits (or losses), and one must develop a philosophy of life. The reason I say this is because sooner or later everyone runs into seemingly impossible trouble, and one must have a way of surviving those troubles until the sun rises.
MORE
Richard Russell continues:
“There are more things on this earth than money and profits (or losses), and one must develop a philosophy of life. The reason I say this is because sooner or later everyone runs into seemingly impossible trouble, and one must have a way of surviving those troubles until the sun rises.
MORE
Subscribe to:
Posts (Atom)