Comment: Eric Sprott 4-27-13: an excellent shot at $3,000 gold

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SteveMT's picture

Eric Sprott 4-27-13: an excellent shot at $3,000 gold$3,000_Target.html
We are going to have an excellent shot at $3,000 gold because this thing is totally sold out here based on the action of the Friday and Monday of the previous weeks. The whole exercise backfired. If it was central bank manipulation or somebody trying to break the market, it totally backfired.

I can’t believe that I can say to you that the US Mint has sold 1,000% more gold this month, than April of last year, and the month is not even over. I’m shocked that I can say the UK Mint has sold 200% more. You hear numbers out of China and India of hundreds of percent differences.

I mean these are staggering developments in a market where the supply has been essentially fixed for 13 years. The mining supply went down last year. Mining supply will go down this year, and yet we see a huge surge of physical buying all over the place. This has been a wonderful response from people who realize the ridiculousness of what the central planners are doing.”$3,000_Target.html