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Minimal downside for gold and silver now, Embry tells King World News
5:25p ET Monday, June 3, 2013
Dear Friend of GATA and Gold:
Sprott Asset Management's John Embry, reflecting today with King World News on a career of 50 years in the financial markets, laments the various increasing mechanisms of market manipulation as well as dissembling by government. But as ever Embry is confident of the prospects for gold and silver, especially now that the big commercial traders, the bullion banks, seem to have unloaded most of their short positions.
"The bottom line," Embry says, "is there is minimal on the downside at this point and the probability of the upside occurring is 98 percent. So this is the end game, and I'm glad I'm playing my hand and not theirs because I firmly believe that our hand is the winning hand."
An excerpt from the interview is posted at the King World News blog here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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