Turk – A Remarkable & Historic Breakout In Gold & Silver
September 3, 2012
Today James Turk told King World News, “This breakout (in gold and silver) is very important historically because it is not only ushering in the next great move in the metals, but it also signals the beginning of the next leg of the destruction of fiat money.” Turk also said, “Given that silver is still in stage 1, the media attention won’t begin until silver hits a new record high over $50 per ounce, and I think this is coming in just a few months.”
Here is what Turk had to say: “Even though the US is closed for the Labor Day holiday market, Eric, gold and silver are on fire over here in Europe. Silver has hurdled $32 while gold looks ready to take on resistance at $1700, which is a key level the bears have been defending since last March.”
James Turk continues:
“This breakout in gold and silver over the last two weeks is exactly what we have been expecting and waiting for. It is very bullish that we are seeing good follow-up buying from last week’s strength. Some of that mountain of money sitting on the sidelines is coming into the market, but so far it is only a trickle.
That will probably soon change to a torrent as people come back from their summer holidays and realize that the interrelated sovereign debt and bank insolvency crises have not gone away….