John Embry seems to agree with my recent call of going overweight silver in the short term. Here is what he said today in his recent interview with King World News:
“Silver is absolutely explosive. The bullion bank with the large short position has thrown everything but the kitchen sink at the thing on the downside. You had those five margin hikes a couple of months ago as an example and that was all an attempt to hold back something that I don’t think can be held back. All it did was sort of buy two or three more months and now silver is building up power to roar through the $50 all-time high.
Once silver does that (breaks $50), who knows where it’s going to go? All I know is that gold is going a lot higher and the gold/silver ratio is going down and that means silver is going a lot further than gold. So I mean pick your prices, they are going to be dramatically higher for both of them.”
- John Embry, via a King World News Interview: