With continued chaotic trading in the gold and silver markets, today King World News interviewed one of the top strategists in the world, Robin Griffiths of Cazenove out of London. Cazenove Capital is the appointed stockbroker to Her Majesty The Queen. The acclaimed strategist accused the US government of causing this smash in the gold and silver markets, and also spoke about what to expect next. Below is his powerful interview.
Griffiths: “What I would say about gold and silver is a lot of very big entities have a vested interest in those prices not going rocketing up right now. And I don’t think it takes an awful lot of money acting in paper gold to make the prices break down on a daily basis and that’s what we’ve seen….
“But so far, the very long-term trends are still steeply upwards for both gold and silver. They just happen to be extremely volatile in the very short-term. Of course traders love that and investors hate it. But I would be long-term long of both gold and silver.”
Eric King: “Robin, we are seeing this smash today on gold and silver, and you are saying they are just going into the paper market to show weakness here.”
Griffiths: “Yes, that’s right. It’s a highly manipulated market. But if you actually want delivery of the physical metal, it’s extremely difficult to take delivery (of large quantities). And the people who have been mopping up the actual mined output each year are obviously India and China.
Continue reading the Robin Griffiths interview at KING WORLD NEWS