- Oil has rocketed past US$108 for Nymex and US$124 for Brent Crude. It appears they will be heading rapidly to the US$150/barrel (Brent) soon. Gold and silver will follow oil higher! I still see US$3500/oz gold and US$100/oz silver in 2012!
Embry – Fending Off Collapse & Next Move for Gold, Silver, Oil
With gold at $1,780, silver solidly above $35 and oil above $108, today King World News interviewed John Embry, Chief Investment Strategist of the $10 billion strong Sprott Asset Management. Embry went into detail about where he sees gold, silver and oil headed next, but first he had this to say: “The Greeks can now lose their gold because of a default. It’s appalling what they are trying to jam down the Greek public’s throat. This deal is ludicrous and this thing has as much chance of succeeding as I have of being on the moon next week. Therefore, the cartel will now have the Greek gold, it’s a travesty.”