Gold on its way to $1500/oz

Posted by John Embry - Sprott Asset Management on BNN

Share on Facebook

Tweet on Twitter



Click HERE to watch or Click on the Image.

Gold going to $1500/oz, the opening statement as BNN talks gold with John Embry, chief investment strategist, Sprott Asset Management and in our humble opinion it is well worth your time to watch this clip, click here.

In Johns commentary he says that the silver fundamentals are better then those of gold and he expects silver to do better then gold despite being an avid gold bug. He also expresses some surprise at the amount of time Barrick Gold Corporation have taken to close their hedge book of nine million ounces of gold.

G20 are due to meet shortly so its not in their interest to have gold (link to analysis) making extraordinary gains before the meeting as they will be telling the world that they have everything under control. Should gold move sharply higher then this could be embarrassing for them. It will be interesting to observe golds performance before the meeting and its performance after the meeting.

The meeting of the Group of 20 (G20) is planned to take place in the US city of Pittsburgh, which is scheduled for 24th and 25th September 2009.

As we write gold has just closed in New York at $1007.20 and silver (link to analysis) has closed at $17.01, with green on the screens everywhere and the HUI up 12.67 to 432.34 you have good reason to smile so make it a big one!

The second half of this clip is an interview with Yale Simpson, executive chairman, Exeter Resource Corporation who have recently announced an incredibly large gold discovery, which you may also find interesting.

Have a sparkling day.

Your thoughts are of course most welcome, so please fire them in.

To stay updated on our market commentary, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address.

For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our Free Silver Prices Newsletter.

For those readers who are also interested in the nuclear power sector that is currently coming back to life, you may want to subscribe to our Free Uranium Stocks Newsletter, just click here.