Eric Sprott: Organized G6 Bond Buying Will Send Gold to New Highs Prior to End 2012

Newsmax has released an excellent interview with our friend Eric Sprott of Sprott Asset Management.

Sprott shares our recent sentiments that the Fed is not likely to announce QE3 at an FOMC meeting, but rather on an upcoming Sunday night in coordination with a massive announcement by all G6 countries.

Sprott states he is ‘convinced‘ gold will be at new all time nominal highs by the end of 2012!

“The world is hoping for some monetary stimulus from the G6 countries. I would not be surprised at all that some Sunday night we’ll get some announcement that all governments are going to buy more of their government bonds, maybe some organized action by the G6, which I think will just send gold moving significantly higher. I’m pretty convinced it will be at new highs before the end of the year. It’s not even that relevant to me what it is exactly at the end of the year”