Embry: Gartman inept, CNBC wrong, gold demand off the hook

King World News interviewed John Embry, Chief Investment Strategist of Sprott Asset Management, a fund with assets of some $10 billion, over the long weekend.

Embry says “bullion dealers are telling [me] phones are ringing off the hook and demand is incredible” and he doesn’t think for one moment there won’t be a third round of monetary easing:

“I think perhaps the most bullish thing I saw yesterday was that Dennis Gartman has pronounced the end of the gold bull market as a result of the Fed’s actions. Nothing could be further from the truth. Given Dennis’s unbelievably inept record at calling the gold price, in both directions, I regard this event as wildly bullish.”

“You also had CNBC, which to me is a propaganda machine, when they are out slamming gold and silver after they have experienced major corrections in ongoing bull markets, again, this is wildly bullish for both metals. I really am intrigued at what is taking place because I think the other side, the manipulators, are seriously over-playing their hand here. The interpretation of the FOMC minutes that there would be no more QE is preposterous.

Continue reading at King World News.