http://www.mineweb.com/mineweb/view/mineweb/en/page96985?oid=103026&sn=2010+Detail&pid=102055

Sorry if this was posted earlier. I have been out of touch for a few days but I was interested in Embry's comments on something happening in the next couple of weeks.

GEOFF CANDY: what are you going to be focusing on over the next couple of weeks?

JOHN EMBRY: I think the key thing I am watching is the unfolding saga with respect to paper gold. There are some very interesting developments that I am not at liberty to discuss at this point going on, on this front. And I thnk as this becomes more obvious to people, I think an awful lot of individuals and institutions that hold ETFs, pooled gold accounts, gold certificates are going to probably start to feel very uncomfortable about what they own. And, if they start moving in the direction of owning physical gold, or vehicles where the gold is allocated and allotted. I think that will have an outsized impact on the price.

GEOFF CANDY: How does this impact the companies themselves, the guys digging it out of the ground?

JOHN EMBRY: Finally, as you know basically they have been falling. People haven't really been too interested in them these days, the price action is dull. I think that the reason for that is that there is a widespread belief, and you cited it yourself why shouldn't gold fall back from here to its traditional levels or however you want to put it. And, with that belief, people are seeing how little money gold companies are making at these gold price levels. So I think that has taken a lot of the enthusiasm out of gold stocks. But, if I am right and the gold price moves sharply higher (and if it isn't up at least $500 in the next six months, I will be surprised) if that occurs, then gold stocks are going to go nuts. Because people haven't believed in them and they will become a spectacular levered vehcicle to take advantage of the rising gold price