Today James Turk spoke with King World News about what is really happening with the commercials in both gold and silver and what he said was fascinating. Turk also said silver may surprise traders and investors by vaulting to $22 next month.
Important Alert On The Gold & Silver Markets!
April 4 (King World News) – With the gold and silver markets still trading in a tight range, KWN did a follow up interview with James Turk about what the commercials are up to in both gold and silver.
Eric King: “James, are you concerned about the large uptick in commercial short positions in gold? Silver looks extremely bullish in terms of the COT.”
EFPs Distort COT
James Turk: “I pay only passing attention to the COTs – particularly now with the EFPs at record levels, which can distort the size of the true open interest. I always rely first and foremost on the market action itself, i.e., the way the metals are trading. And I think we are close to something big on the upside…
NEW KEITH NEUMEYER INTERVIEW:
Keith Neumeyer just spoke with KWN about $8,000 & $10,000 price targets for gold and much more, to listen immediately CLICK HERE OR ON THE IMAGE BELOW.
Possible $22 Silver Next Month
James Turk continues: “The head-and-shoulders pattern in silver looks spectacular. My expectation is that silver will break above $17.40 this month, which will then take silver to $22 in a matter of days – meaning that I am expecting $22 next month. But I’m getting ahead of myself. It all depends on silver breaking out of the $16.10-$16.80 trading range in which it has been mired for two months.”
King World News note: For those of you that are accumulating physical silver, the COT is extremely bullish for silver at this time. Meaning, if you hold off on purchases, the odds are the silver price will be higher in the coming weeks, not lower, so it may be wise to buy physical silver now. ***Also Just Released Look Who Said He Hasn’t Seen Anything Like This In 55 Years! CLICK HERE.
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