Turk – The Mother Of All Short Squeezes In Gold & Silver
April 29, 2013
Today James Turk spoke with King World News about a developing situation which could very well create a massive short squeeze in both gold and silver. This is really an extraordinary set of circumstances which Turk has pinpointed that has the potential to set off a massive buying panic in the metals.
Turk: “I think the most important thing that has happened since we last spoke two weeks ago, Eric, is that gold has risen $148 from its low, while silver is $2.25 above its recent bottom. Those are jumps of 11% and 10% respectively. It is an indication that precious metal prices were pushed to a such an extreme that those bargain-basement prices were simply not sustainable.
Further, I think it is fair to say that there has been a buying panic in the precious metals, which is exactly the opposite view that one would receive by reading the mainstream media….