The melt-up in the gold and silver markets is continuing in Asian trading. Gold has surged another $32 closing in on $2,000 and silver hit $26 as the short squeeze is intensifying in trading in Australia and Japan’s TOCOM.
The Great Gold & Silver Awakening
July 27 (King World News) – Eric King: “James, gold and silver are continuing to melt-up in overseas trading on Japan’s TOCOM as well as in Australia.”
James Turk: “Yes, Eric, precious metals trading opened in Asia this morning with a deluge of buying. It’s an awakening. People are getting it. They are starting to understand that they need physical gold and physical silver. Exposure to the prices of precious metal through GLD and SLV is not the answer. They want the physical metal, and at current prices – even though prices have risen spectacularly – physical gold and physical silver are still in short supply.
Billionaire Eric Sprott Buying
To find out which company billionaire Eric Sprott just bought a 12% stake in click here.
Every once in a long while there is a short-squeeze in commodity markets, as I explained earlier today on KWN. When that happens, the price of the commodity being squeezed goes up like a rocket. It can be breathtaking. That explains what is happening in gold and silver at the moment. But people need to keep in mind they are not ordinary commodities — gold and silver are money.
This Short Squeeze Is Different
So this short squeeze is different. We are seeing a rejection of the fiat currency that is being used to purchase real money – gold and silver – in its physical form. These buyers want safety, and safety comes from owning tangible assets. Unlike paper promises, physical gold and silver do not have counterparty risk.
I see this buying over the last couple of days as the leading edge of the tidal wave that Pierre Lassonde explained to KWN readers this past weekend. So hold on to your hats. The next several months looks like they are going to be spectacular for the precious metals and the share prices of the underlying companies that mine them.”
Legend Pierre Lassonde gave an an incredibly powerful interview to King World News discussing where the gold market, gold industry, and mining stocks are headed, and what he had to say will surprise a lot of people around the world. To find out why legend Pierre Lassonde says the upside on gold is unlimited and much more click here or on the image below.
Fascinating Email From Gold Dealer/Pawnbroker In England
***ALSO JUST RELEASED: GOLD HITS ALL-TIME HIGH: Fascinating Email From A Gold Dealer/Pawnbroker Out Of England CLICK HERE.
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