This video was shot Friday 18 May 2012 in Jersey, Channel Islands.
James Turk and John Embry discuss recent volatility and panic in the gold and silver markets. According to John Embry markets are now highly oversold. He mentions the "leap day slaughter" and the counter intuitive situation in which gold and silver prices went down on the backdrop of negative economic news and money printing. Natural selling followed forced selling.
Embry thinks the bottom is being tested right now and that there's a lot of upward potential with limited risk. He notes that if you're negative on gold, you must be bullish on currencies, which doesn't make sense in the current environment. James notes the media's negative sentiment towards gold lately, which has scared people away from the metals.
He also notes that the banking system is falling apart in Europe, which should boost gold's status as a safe haven asset.