John Embry – Silver Will Soar Hundreds Of Dollars Higher
January 14, 2013
Today John Embry told King World News there is now a shortage of physical silver and the price is headed hundreds of dollar higher than current levels. Here is what Embry, who is chief investment strategist at Sprott Asset Management, had to say: “I don’t think the action in the gold and silver markets is reacting or based on reality. For both gold and silver, what inventories are available are rapidly being consumed. We are still seeing games being played in the paper market, but in the meantime those inventories are shrinking rapidly.”
John Embry continues:
“The day will come, an inflection point, when there isn’t enough physical metal left, and that is when prices are going to rise exponentially. Right now the fundamentals are incredibly supportive and the sentiment is extremely negative.
So I don’t see many negatives in the story. It’s just the timing of the move that’s driving people crazy….