Gold and What Moves it.

Today John Embry told King World News that a powerful entity is now battling the powers that be in the silver market.  Embry, who is Chief Investment Strategist at Sprott Asset Management also spoke about the increase in net-long contracts in the face of the declining silver price, the silver shortage, as well as the gold market. Here is what Embry had to say in this powerful interview:  “I’m focused on this vicious takedown of gold and silver that’s been ongoing for the last month and a half.  I’ve been following this story for the better part of 15 years and I can honestly say I don’t think I’ve ever seen a more intense, day after day takedown.

“When London opened gold and silver were driven down for about ten consecutive days.  The COMEX PM close was lower than the AM opening.  This just bespeaks very aggressive manipulation.  The question I ask myself is, ‘What’s bothering them?  Why do they feel they have to do this?’

"I think there are a lot of reasons. ..."

India's gold imports could fall much further, by 60% to 70% if the government also presses ahead with plans for gold bonds and a controversial proposed tax amnesty on such investments.

NEW DELHI(BullionStreet): Any further hike in gold import duty could trim India's imports by 25 percent this year, according to All India Gems and Jewellery Trade Federation.

Federation chairman Bachhraj Bamalwa said he believes import duty on gold will be hiked to 6% in the budget scheduled for Feb. 28.

The basic customs duty on standard gold bars is 4 percent and the levy on non-standard gold is 10 percent.

He added that if the government also presses ahead with plans for bullion-backed paper investment products such as gold bonds and a controversial proposed tax amnesty on such investments, imports could fall much further, by 60%-70%.

Increase in duty will make gold costlier and at this price investors will not be interested,he warned. ...