Embry – Human Psychology Reason for Mining Shares Disconnect
Truly great buying op, Embry says.
John Embry, Chief Investment Strategist for Sprott Gold & Precious Minerals Fund tells King world News’ Eric King that human psychology is behind the strange disconnect between precious metals and mining/exploration shares. “There’s been a total give-up,” he said.
I think there has been a total give up. I’ve been around this business for a long time (49 years), and I remember what happened post Bre-X. Exploration stocks were on the moon when that thing blew up and we went through a three and a half year period where it was just deadly, there was no interest.
I would dare say it’s worse now and yet you have a gold price which is six or seven times what it was then. It really is remarkable and it’s a testimony to human psychology. This is one of the truly great buying opportunities of all-time.”
Mr. Embry also believes the physical gold and silver markets are taking control from the paper metal markets. More at the audio link below.
Source: King World News