KING WORLD NEWS - BLOG
BROADCAST../../../../Broadcast/Broadcast.html../../../../Broadcast/Broadcast.htmlshapeimage_6_link_0
HOME../../../../King_World_News.html../../../../King_World_News.htmlshapeimage_13_link_0
BUSINESS../../../../Business.html../../../../Business.htmlshapeimage_14_link_0
GREEN../../../../Green.html../../../../Green.htmlshapeimage_15_link_0
HEALTH../../../../Health_1.html../../../../Health_1.htmlshapeimage_16_link_0
ENERGY../../../../Energy.html../../../../Energy.htmlshapeimage_17_link_0
SPORTS../../../../Sports.html../../../../Sports.htmlshapeimage_18_link_0
GOLD+../../../../Gold.html../../../../Gold.htmlshapeimage_21_link_0
 
 
KWN Blog




Archives../../../Archive.html../../../Archive.html../../../Archive.html../../../Archive.html../../../Archive.html../../../Archive.html../../../Archive.htmlshapeimage_22_link_0shapeimage_22_link_1shapeimage_22_link_2shapeimage_22_link_3shapeimage_22_link_4shapeimage_22_link_5
To go to KWN “RSS Subscription” page CLICK HERE../../../KWN_DailyWeb.html../../../KWN_DailyWeb.htmlshapeimage_23_link_0

Turk continues:


“During times of trouble the natural reaction is to bring assets home.  So as confidence in the dollar declines you might see an emotional knee-jerk reaction with people buying the euro even though that currency has serious problems as well.  


But people who buy the euro will soon learn it is only a stepping stone to the only real safe haven which is gold and silver.”  


When asked about silver Turk remarked, “The important point Eric is that silver is still in backwardation.  I mentioned to you previously in the KWN blog piece on April 1st of this year that if silver remained in backwardation when we neared the $50 area it would be a truly extraordinary event.  Here we are with silver touching $49 in Asian trading this morning, yet it remains in a 63 cent backwardation from spot to December 2015.


I can’t stress enough how significant that event is.  Over the past three months the price of silver has nearly doubled, yet the backwardation has not disappeared.  Markets are not designed to work that way, the higher price is supposed to entice people to sell their physical and hold dollars instead.  I think the market is quite clearly sending the signal that people would rather hold silver instead of paper money.  


The bottom line is that as long as silver remains in backwardation, price declines will be  short-lived, it’s also telling us that silver has not yet reached a top on this move.”


When asked about gold specifically Turk replied, “We have taken out $1,500 and we look ready to move higher.  Often times when you take out a century mark it brings in a lot of new buying and that is what I expect to happen this time.  I had not expected the gold/silver ratio to move in silver’s favor as fast as it has below the 35 level. 


At on point in early trading today the ratio was below 31.  That is telling me that silver is still leading the way, but when I look at the gold chart and the huge base that it has built under $1,500, I still conclude that gold is ready to rocket higher.”  


For those who may have missed James Turk’s KWN audio interview from last week CLICK HERE to listen.


Eric King

KingWorldNews.com

To return to BLOG click here.


http://www.kingworldnews.com/kingworldnews/Broadcast/Broadcast.html

KWN BLOG INTERVIEWS

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/KWN_DailyWeb.html
KWN BLOGhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/KWN_DailyWeb.htmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/KWN_DailyWeb.htmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/KWN_DailyWeb.htmlshapeimage_28_link_0shapeimage_28_link_1