- We Are About To Crush 15 Years Of Resistance In Gold & Silver!
Today John Embry told King World News that we are about to crush 15 years of resistance in gold and silver. Here is what Embry, who is chief investment strategist at Sprott Asset Management, had to say: “Friday was a solid day, but I could have bet my life that we would see exactly what’s transpired today. There has been no follow through whatsoever and that’s become the norm. Essentially, they don’t want people to get excited about this sector, so when it pops up in price they make sure there is no follow through.”
“But you have to understand the extent to which the gain on Friday was fought. There were explosions in open interest on the COMEX. Open interest in gold contracts increased over 14,000 contracts. Open interest increased almost 4,000 contracts in silver. These are big numbers….
There will ultimately only be one resolution to these games which are being played, and that is a massive explosion in the price of gold and silver. I’m never going to be happy until I see gold up $100 and silver up several dollars in one day because then I will know that the resistance which has constantly been there for 15 years has finally been overcome. We are now getting very close to seeing that event take place.”