Turk – There Is A War Going On In The Gold & Silver Markets
September 24, 2012
Today James Turk told King World News there is a fierce battle taking place between the bulls and bears in the gold and silver markets. But Turk noted, “… the uptrend shows the physical buyers of gold and silver gaining the upper hand, while the shorts and central planners are losing this war.”
Here is what Turk had to say: “It’s a real battleground out there, Eric. It started at the beginning of last week when gold was looking like it would break through $1780 while silver was already climbing through $35. But then the shorts started throwing everything they could at that price advance and stopped both precious metals.”
James Turk continues:
“Hitting a wall like that caused a reversal, but support quickly showed up in the $1750s and around $34. The same thing happened twice last week, but the week ended for the precious metals in a stand-off. Then today the battle started again when the shorts started pounding gold and silver here in Europe.
But just like last week, the buyers of physical metal showed up when gold dropped into the $1750s….