With continued volatility in the gold and silver markets, today acclaimed money manager Stephen Leeb told King World News that despite weakness, silver is now set up to “super-surge” to $110. Leeb discussed the surprising reason for the coming surge, as well as how the mainstream media will be used to explain it.
Leeb: “Everyone is focused on the US government, and whether the delinquents can really get their act together. It would seem, at first glance, that gold should be going through the roof. The mightiest country in the world is clashing in a way that’s taking us to the precipice of what could be an absolutely calamitous economic event….
“The markets are saying we are probably not going to go over the precipice. Stocks have been under pressure, but it’s not necessarily the kind of pressure that says we are going to come unhinged. But having said that, you would expect gold to have a much stronger bid than it does.
Volume in gold is light right now because the Indians have been strong-armed and forced to back away from the market a bit. The Chinese continue to buy incredibly aggressively. China just imported a staggering 131 tons of gold into Hong Kong. The important thing to remember here is there are a lot of other ways the Chinese get gold outside of the stunning Hong Kong imports. The Chinese have a lot of buying still to come. I told you last week that they are going to accumulate another 5,000 tons of gold.
Continue reading the Stephen Leeb interview at KING WORLD NEWS