With the price of silver surging well above $17, this week James Turk just made on of the most remarkable calls in the gold and silver markets.
This was the remarkable short-term trading call from the King World News interview with James Turk on Monday, January 23:
“This is option expiry week, Eric. As you and I have often discussed in the past, we know what to expect. Even though gold and silver started the week with strength, it is likely that their prices will now be capped, with some selling pressure as we approach option expiry. Comex options expire on Thursday. Options in the larger Over-the-Counter market start expiring the same day, with their expiry continuing to the end of the month. From past experience we know that prices of gold and silver are weak when options expire. This recurring outcome is just one visible facet of the ongoing manipulation of precious metal prices. So based on past experience, we can expect downward pressure on precious metal prices for the rest of this week, with the low likely to occur Thursday morning US time when Comex options go off the board…”
King World News note: I wanted to highlight this remarkable call by James Turk because he gave KWN readers around the world the playbook for precisely how the gold and silver markets would trade the rest of the week, after Monday’s head fake surge. For what it’s worth, the low in the gold market occurred precisely on Thursday morning, exactly as James Turk said it would. This helped both traders and investors who were looking to add to positions in physical gold and silver as well as the mining shares.
As an example, for anyone looking to add mining shares, because of Turk’s interview they knew to hold off on making new mining share purchases until Thursday. By exercising patience, they sidestepped a more than 4% decline in the HUI mining share index***KWN has now released the remarkable KWN audio interview with James Turk that has now been released CLICK HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: Is The Public About To Get Torched In A Stock Market Plunge? The Answer Will Shock You CLICK HERE.
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