Legend Says Silver & Gold Are Going To Shock People On The Upside As $630 Trillion In Derivatives Meltdown

Friday, July 22, 2016
By Paul Martin

KingWorldNews.com
July 22, 2016

In the wake of continued consolidation in the gold and silver markets, today one of the legendary traders in the business told King World News that gold and silver are going to shock people on the upside as $630 trillion in derivatives meltdown.

Victor Sperandeo has been in the business 45 years, and has worked with famous individuals such as Leon Cooperman and George Soros.

Victor Sperandeo: “As of yesterday the Atlanta Fed was forecasting 2.4 percent GDP growth. What this has been doing is crushing the shorts in the stock market. Meanwhile, many of the base metals have been hitting new recent highs…

Silver’s Staggering 34% Surge
Victor Sperandeo continues: “Silver and gold have rallied big so far this year and instead of selling off they are consolidating. On June 1st the price of silver was $15.80. But by July 6th the price of silver hit $21.25. That’s a staggering 34 percent move in about a month.

And from the $21.25 intraday high, the price of silver is now trading at $19.70. Normally when you see a 34 percent move in a month and a week you would get a typical 1/3 to 2/3 correction of that move, especially since the price of silver is way above the key moving averages. But silver is not selling off. Meanwhile, both palladium and platinum made a new high for the move this week.

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