A money dam is about to break and flood the gold market: John Embry
All signs still point to a big gold and silver breakout, says John Embry, top strategist at Sprott Asset Management.
"Gold is so dramatically under-owned, that when it is finally seen as the best alternative, the amount of money that will pour into an already remarkably tight physical gold market, once this money gets unlocked, will cause the price of gold to literally soar," said Embry in an interview with King World News.
"Once gold really gets moving, I think people will be amazed at how quickly and how far gold goes."
Embry said he would not be surprised to see $1,900 gold before the end of the year.
Catalysts to drive gold higher are EU woes, and a US market that is being artificially supported.