John Embry: Hold Onto Gold As ‘Currency Event’ Likely

http://sprottglobal.com/thoughts/articles/john-embry-hold-onto-gold-as-currency-event-likely/

I believe that is probably a fair assessment of what has happened since. I think that the decline in the last month has hurt confidence in the West. But I can assure you that the Eastern interests are rubbing their hands and piling into all the physical gold they can get. Once they realize that there is a limited amount remaining for them to pour their U.S. dollars into, I believe the price will move up sharply.
I think that people should be focusing more on the eventual upside -- which is going to be huge--than on the short-term downside which is due to the paper markets.