James Turk – Gold & Silver Close To Breakout But This May Be The Biggest Surprise

Monday, April 8, 2019
By Paul Martin

April 08, 2019

With the price of gold attempting to surge back above the $1,300 level, James Turk told King World News that gold and silver are now close to breaking out but this may be the biggest surprise.

Gold & Silver Close To Breakout
April 8 (King World News) – James Turk: “Gold and silver weathered another option expiry and its aftermath, Eric. These month-end takedowns occur like clockwork, and sometimes at the end of a calendar quarter they can be brutal – like the takedown that just occurred…

Gold was pushed back under $1,300, while silver’s takedown pushed it below $15. But there is an important observation to make here. Both gold and silver found good support at these levels. This is particularly true for silver, which didn’t close below $15, at least so far. A few short intraday dips by silver below that level were met with ferocious buying, which is understandable.

The gold/silver ratio is still in the mid-80s, with a recent high of 86 ounces of silver needed to buy one ounce of gold. Their ratio should be much lower, but it just shows how out of favor silver is at the moment. So even though gold is undervalued, silver is even more undervalued than gold.

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