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Monetary metals are most manipulated on days of Fed announcements, Sprott says
9:08p ET Friday, August 28, 2020
Dear Friend of GATA and Gold:
Markets are grossly manipulated on the day of any policy announcement by the Federal Reserve to prevent them from interfering with the illusion the Fed wants the world to see, mining entrepreneur Eric Sprott says today in his weekly review with Craig Hemke for Sprott Money.
That is why, Sprott says, the monetary metals were smashed yesterday as Fed Chairman Jerome Powell promised to unleash inflation, and why the metals soared today with the Fed's announcement safely out of the way.
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Gold "was rigged lower" Thursday, Sprott says, as part of a pattern of "35 years of manipulation of precious metals prices."
But Sprott sees the manipulation failing, and this, he says, will especially benefit silver. Indeed, he adds, market evidence is "screaming" that the gold-silver ratio will keep falling sharply. He is betting that it returns to the old monetary ratio of 15 to 1.
Accordingly, Sprott tells Hemke, he spends most of his time lately researching silver investment opportunities. Silver is especially undervalued now as a byproduct of gold mining, but as the gold-silver ratio closes, silver may sharply increase the profitability of gold mines too, Sprott says.
Silver mining shares have not reflected the rising profitability of silver mining and so are greatly undervalued, Sprott contends.
The interview is 25 minutes long and can be heard at Sprott Money's internet site here:
https://www.sprottmoney.com/blog/Summer-Doldrums-Set-to-Give-Way-to-Craz...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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