This Is Why The Price Of Gold & Silver Exploded Higher Today

"On the heels of 50-year veteran Art Cashin warning King World News about a continued short squeeze in gold, today the short squeeze in gold resumed as the prices of both gold and silver surged dramatically.  Interestingly, another 50-year veteran told KWN exactly why gold, and particularly silver were moving so aggressively to the upside, and the reason will surprise readers around the world.  Below is John Embry’s fascinating interview.

Embry:  “I still believe that gold and silver prices are grotesquely undervalued.  I have been alleging gold and silver manipulation for the past 15 years, and I would dare say that the manipulation today is probably as aggressive as any time in that 15 year period....

“I suspect it (the powerful manipulation) is for good reason because if the gold and silver prices were to break away to the upside, it would reveal the problems that are present in the system.  The gold and silver prices will break free at some point, but in the meantime there is a massive fight going on at the current levels -- $1,400+ on gold, and $24+ on silver.

I noticed today that the IMF was saying Europe’s economic growth was now coming along, and that it will assist the growth of the U.S. -- so everything is essentially improving.  Well, I don’t believe the Europe is growing significantly at all.

We continually hear all of this propaganda out of Europe that things are better, and yet you look at the level of unemployment and what’s happening on the periphery, and I don’t think things are materially better at all.  The problems in Europe simply won’t go away.  There is infinitely too much debt, and there are such tremendous imbalances in their current system that I don’t see how they can solve it in the current format..."

at  http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/9/3_This_Is_Why_The_Price_Of_Gold_%26_Silver_Exploded_Higher_Today.html