With the price of gold hitting $1,750, even after central bank intervention, the question is, why are they so afraid of gold breaking above $1,770?
Gold Is Getting Away From Them
June 19 (King World News) – Eric King: “James, there is this huge battle going on in the gold market. The central banks are throwing everything they can to keep gold under control, under this trend line (breakout) after 7 consecutive days of price capping. But on Friday the price of gold is getting away from them.”
What Are They Afraid Of?
James Turk: “Yes, here is the 8th day in a row and again they are trying to keep it (gold) underneath (the major breakout point). And it sort of makes you wonder, what are they afraid of? And I think what it is is they realize when we break this downtrend line they are not going to be able to stop gold this time in the $1,770s, and we are going to go straight up to the record $1,900 high. So I think they are throwing everything they can at gold in order to keep it off of everybody’s radar screen. But given all of the money that’s going on around the world they are going to have a hard time doing that. The market forces…to listen to Turk discuss the failure of London Gold Pool II and the price of gold hitting new all-time highs along with silver click here or on the image below.
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