Watch the video:
Marin Katusa is asking Eric Sprott really straight forward and tough questions in this interview. The last two years were very brutal for any Gold and Silver investors, and Eric Sprott - with his huge exposure to Silver after its Crash from $50 - was not having the best of his time for sure. The most important question for everybody involved now is what will happen next.
Price of Gold and Silver will be the main driving forces for all survived companies. Eric has very bold prediction for Gold going to $2400 by next year: "The most important thing in the precious metals business - the price of precious metals. They all go up if the price of Gold will go up. The question is which one will go up 200% or 500%. If the Gold will go up to $2400, I can bet that the Gold miners index goes up 200%. What we are trying to do: where is the one which will go up 1000%."
This summer we had the capitulation in Gold and Silver stocks with the following turn around and now we are looking to the Eric Sprott and Rick Rule for guidance to run this new Bull. China will play the very important role in this big picture, according to Eric.
"This is why it is called capitulation and this is how the trend is changed and this is when the new Bull is born. Apart from all emotions and pure market manipulations, the share price is determined by supply and demand in the market place. The last sellers in the Bear market are the funds with redemptions, which are closing their shops and liquidating anything at ANY price they can find and the last Believers, who can not handle it any more and are throwing into the towel."
"Gold is under attack today and next week we will find out the amount of tapering. During the brutal gyrations in the market place it is important to keep the big picture in front of you. We will share a few pieces today, which shows who is doing what behind the noise."