Saturday, 11 June 2011

Eric Sprott - Nothing Surprises me of Where Gold can Go

When asked about Jim Sinclair’s comments regarding $12,500 gold Sprott had this to say, 

“Nothing surprises me as to where gold can go.  I mean you just simply look at the printing of money and the way we’ve attempted to deal with things and the stresses in the banking system, and my ultimate end for gold is when people realize they are probably better off not having their money in a bank.  They get paid nothing, they take all of the risk of the bank balance sheet which is incredible, and in my mind why wouldn’t you own gold and silver that are going to maintain their purchasing power in almost any circumstance?  You are way better off owning physical metal than owning a piece of paper at a bank.”

- Eric Sprott, via a King World News Interview

Read the full interview here: