With the price of gold back above the key $1,400 level, surging $35 to $1,420, James Turk says the real short squeeze in gold is now underway. Take a look at Turk’s price target plus a serious collapse.
The Collapse Is Real
July 2 (King World News) – Jerome Blokland: “UK 10-year bond yield collapses to 0.72% as BoE governor warns of downside risks to the global economy because of protectionism. (See chart below).
UK 10-Year Bond Yield Collapses
Jerome Blokland: “On October 3 last year Federal Reserve Chairman Powell stated that rates were a ‘long way from neutral’. Since then the 10-year US Treasury yield has dropped from 3.26% to 1.97%! (See chart below).
After Chairman Powell Comments, US 10-Year Yields Collapse From 3.26% To 1.97%!
Federal Reserve Almost Out Of Ammunition
Sven Henrich: “I repeat: The Fed has very limited ammunition compared the previous cycles. As long as jawboning alone works they don’t need to cut rates. Hence rate cuts will come when confidence demands it, i.e. when markets are lower. The Fed manages the S&P 500 to extend the business cycle.”
Turk: Gold Short Squeeze Underway
James Turk: “Here’s the hourly London spot gold chart. Finally starting to see some short covering, but a lot of shorts still to go. Central banks recognizing they are losing the battle at $1400. Where will they next ‘circle-the-wagons’ to try holding back this bull market? My guess: $1575 (see chart below).
$1,575 TARGET: Gold Short Squeeze Underway
ALERT: Huge Warning As Gold Surges Above $1,400
READ THIS NEXT! ALERT: This Is A Huge Warning As Gold Surges Back Above $1,400 CLICK HERE TO READ
***KWN has now released an extremely important audio interview with Dr. Stephen Leeb discussing why he believes that the price of gold will soar above $10,000 and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
More articles to follow…
In the meantime, other important releases…
Multi-Billionaire Hugo Salinas Price Just Warned This Is What Has International Bankers So Worried CLICK HERE TO READ
First Time In 80 Months! Plus Gold Is Rising In Popularity But Here Is Why You Don’t Have To Worry About Silver CLICK HERE TO READ
Astonishing Look At The Fierce Trading In Gold, A Major U-Turn By This Central Bank And Trouble Brewing In The US And China CLICK HERE TO READ
GLOBAL WRECKING BALL IN MOTION: Despite Volatility, Why Gold Price Is Set To Accelerate Thousands Of Dollars Higher CLICK HERE TO READ
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