Eric Sprott: Manipulation & Golden Opportunities
Adam Pike, News Editor
7 Mar 2014, 10:59 a.m.
Eric Sprott, CEO of Sprott Asset Management and long term gold bug believes the gold manipulation story is gaining momentum. He cites the recent research paper published by researchers at New York University and the article issued by the Financial Times as evidence that the manipulation story is gaining traction.
Sprott also believes that the Western Central Banks are running out of gold and last year’s price decline was orchestrated so banks could drain ETF’s of their physical gold. On India, Sprott suggests that once the gold import tax is relaxed there will not be enough physical gold available to meet the demand of India and China.
Ultimately, Sprott believes the manipulation has given us a golden opportunity to buy gold bars and coins at a major discount.