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Eric Sprott Talks Lows in Gold, Comex Shenanigans, and Answers Your Questions (Weekly Wrap-Up, December 15, 2017)

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December 15, 2017

Lows in gold, Comex curiosities - it's been an interesting week for precious metals. Whether or not there will be a rally in 2018 remains to be seen, but if history is anything to go by, there just may be a lift in the market as we turn the calendar to the new year.

Eric Sprott thinks so, too. "It's been a pretty good week so far," he says. "It's interesting and sort of sickening in a way that the commercial banks, who were shorting gold and silver, can use these Fed meetings as an excuse to knock gold down to raise rates. That's their cover, right? That's their cover for their illegal trading activities, the minute the shorts knock the prices down and the Fed raises rates, up she goes. What a massive turnaround in as little as two weeks."

While we know that it's just cover for the banks, positions have become even more extreme in the prices of gold and silver. "It's awful to say that the prices of gold and silver are a function of what the commercial banks want to do to the hedge funds. Since we don't have a true market, and there are things in the market which we can find quite constructive here outside of the CoT, and we now have a rally here, the tone for rate increases next year, it might not make a serious difference to someone deciding that he wants to own gold vs owning a bond, considering that the bond yield didn't go up anyway. Gold is certainly not less attractive post rate increase, because we didn't really get one!"

For more on gold and silver prices, Comex and CoT movements, and to hear YOUR questions answered by Eric, tune into this week's Wrap-Up, below:

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Specializing in the sale of bullion, bullion storage and precious metals registered investments, there’s a reason Sprott Money is called “The Most Trusted Name in Precious Metals”.

Since 2008, our customers have trusted us to provide guidance, education, and superior customer service as we help build their holdings in precious metals—no matter the size of the portfolio. Chairman, Eric Sprott, and President, Larisa Sprott, are proud to head up one of the most well-known and reputable precious metal firms in North America. Learn more about Sprott Money.

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About the Author

Our Ask The Expert interviewer Craig Hemke began his career in financial services in 1990 but retired in 2008 to focus on family and entrepreneurial opportunities.

Since 2010, he has been the editor and publisher of the TF Metals Report found at TFMetalsReport.com, an online community for precious metal investors.

*The author is not affiliated with, endorsed or sponsored by Sprott Money Ltd. The views and opinions expressed in this material are those of the author or guest speaker, are subject to change and may not necessarily reflect the opinions of Sprott Money Ltd. Sprott Money does not guarantee the accuracy, completeness, timeliness and reliability of the information or any results from its use.

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