With people around the world concerned about the escalating war in Syria, today King World News is featuring a powerful interview that answers the question about the war in Syria and what that means for gold and silver prices.
October 5 (King World News) – James Turk: “All KWN readers need to be watching very closely the events unfolding in Syria, Eric. The risks are multiplying rapidly now that Russia has entered the war there to support its ally, which is the same Syrian government that the US wants to oust. We all know the problem that entangling alliances create from books explaining the cause of the First World War.
We have already seen the news reports and videos of Russian planes bombing targets throughout Syria, but Russia’s involvement may not stop there…
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James Turk continues: “There have been news reports that Russia is considering a naval blockade of Syria, which would obviously escalate already heightened tensions in that part of the world, and perhaps even beyond. All of this of course is unfolding on top of the horrific human tragedy occurring in Syria.
Hopefully reason will prevail, but I am wondering now as to what really drove precious metal prices higher on Friday.
Of course the terrible unemployment report that shows the US economy is rapidly weakening was the trigger. The jobs number was so bad that it seems inevitable that one way or another the Fed will trash the dollar to try breathing some life into the economy. So it seems logical that the precious metals were looking ahead and rallying on the prospect of a weaker dollar.
But was the dollar’s outlook the real reason that carried both gold and silver so much higher on Friday or was it the mounting geopolitical tensions?
To answer this question, consider what happened to the dollar on Friday. It first fell like a stone after the unemployment number was announced, which is the reaction one would normally expect if economics and Fed policy were the driving force. But the dollar didn’t keep sinking throughout the day.
In fact, the opposite occurred — the dollar kept clawing its way higher. That strength could be a signal that investors were looking beyond the unemployment report to ‘other things.’
Given that the dollar normally rises during periods of geopolitical uncertainty, these ‘other things’ of course are the heightened tensions in Syria. To further reinforce this point, the dollar climbed again today.
War Has Sent Gold Prices Higher But Silver Is Leading
It could be that investors see the situation in Syria as an accident waiting to happen. And geopolitical accidents usually mean higher gold and silver prices.
Interestingly, silver is still leading. There has been a steady drop in the gold/silver ratio since reaching a peak of 80 in August. The best precious metal bull markets occur when silver leads, and that’s what is happening now.” ***KWN has now released the incredible audio interview with Dr. Paul Craig Roberts, where he covers the chaos in global markets, what to expect next for gold and the U.S. dollar, the war in Syria, and what will cause the collapse of the global financial system and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***KWN has also now released the extraordinary audio interview with legendary Robert Arnott, where the legend tells KWN listeners a fantastic investment that is available right now. He also discuss the unprecedented chaos, turmoil and instability in the global financial system, what investors should be doing with their money to protect themselves from the turmoil in Western stock markets and much more, and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: Commercial Hedgers May Stun Traders By Continuing To Push The Silver Price Higher In Coming Weeks CLICK HERE.
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