Thursday, March 29, 2012

Mainstream Bashes Gold, But New Highs Coming

The mainstream bashes gold, including Chairman Bernanke ... indicating gold was an old, worthless standard that shouldn’t be considered. But I think those of us who have studied what’s going on in the world economic situation, the world money printing situation -- we’re very aware of the merits of gold.

The merits of gold get better by the day, but the mainstream tries to downplay it. It’s not something new. We’ve gone through this for twelve years now. But the majority of the main prognosticators in the world seems to think that gold is not an appropriate investment.

I think those of us who have championed it (gold) over the last twelve years have obviously been way more correct and we will have our day. There are strange things that happen in the paper COMEX market that negatively affect the prices of both (gold and silver).

My view here is that before we end the year we will hit new highs in both metals. Then the (mining) stocks would react. The big problem has been there is not this momentum in the prices of bullion, which is keeping people away from the gold stocks. If we can get the price of gold and silver going back up, I’m sure people will come back into the mining stocks.”

- Eric Sprott, via a recent King World News Interview, read the full interview here:

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