On the heels of the Dow plunging 650+ points, today James Turk told King World News that the price of silver is finally ready for an upside explosion.
James Turk: “There’s been so much happening in the markets, Eric, it seems like more than a week has passed since we last spoke. Stocks down, cryptos down, dollar down, but gold and silver are different. They both went down last week but are bouncing back. Their market action is telling us something meaningful…
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James Turk continues: “Despite the concerted efforts to suppress the price of gold and silver, they both keep holding support. Here’s the chart of spot silver in London.
Silver Is A Coiled Spring! Watch For Neckline To Be Broken On The Upside!
Silver is still forming the right shoulder of a huge inverse head-and-shoulders base. Look at all the downtrend lines that silver has hurdled (see right hand side of above chart).
The War In The Silver Market
Unfortunately, the price manipulators keep ‘circling the wagons’ once the downtrend lines are hurdled. Overhead resistance at $16.80 has been formidable. More importantly, support above $16.00 has been just as formidable, hence the trading range. Silver time and again keeps getting up off the canvas, and that is the important point.
Having silver stuck in a trading range is testing our patience, but now is not the time to take our eye off the ball. I don’t know how much longer it’s going to take before silver climbs above $16.80 and then completes its right shoulder by climbing to $17.40. Nor do I know when silver will exit this pattern by hurdling above the neckline.
Very Close To Silver Rocketing Higher
But given that silver is so radically undervalued, I continue to believe that we are very close to that moment for silver to rocket higher – not months from now, possibly in just days or a few weeks.
Here is one of those great opportunities in the gold and silver markets that James Turk is talking about…
I Recently Purchased Nearly $300,000 Of This Stock
Eric King: “I recently purchased nearly $300,000 of stock in your company because I believe it will be one of the big performers in 2018. You have not one, but 3 properties (projects) that various companies and entities want to acquire and that puts you in the drivers seat in terms of being one of the best performing stocks this year as your company moves to monetize and increase the value of those assets dramatically.”
This May Send Our Share Price Multiples Higher
Ivan Bebek, CEO of Auryn Resources: “The financing we just closed guarantees that Auryn will be funded for 2018, a year in which a series of catalysts could send our share price multiples higher than what is being quoted today, especially if the gold market performs.
A Junior With The Scale Of A Major
And yes, the scale of our gold exploration upside is unparalleled in the industry based on the amount of prospective real estate we have and are currently exploring. Auryn is pursuing multiple significant gold discoveries. We look at our company as a junior with a majors exploration portfolio backed by a majors exploration team. We are about to get access to our Sombrero Project in Peru, which is the best pre-drilling prospect we have seen in our careers based on gold and copper grades on surface along more than a 30 kilometer trend. We also have over 420 kilometers of prospect gold greenstone belts in Canada and over 100,000 hectares of prospective land in Peru.
Goldcorp Just Increased Its Investment Stake In Auryn Resources
The recent downturn in the gold equities and lack of discoveries has set the stage for substantial investor returns when the next discovery is made and we believe Auryn Resources will make that major discovery. The bottom line is that Goldcorp did not invest in Auryn to help the company finance mines. Goldcorp invested in Auryn to help the company find mines that they would eventually acquire. There are two types of mines that you can find, one that makes investors money and one that makes investors rich, and Auryn has both of those opportunities in its portfolio.” For those of you who have yet acquired a stake in this high-quality company, now is the time. Auryn Resources stock symbol AUG in Canada & the US.
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