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Turk – Tight Gold & Silver Markets To Spark Massive Breakout

from King World News

Today James Turk told King World News, “I had the chance to read John Embry’s comments today on KWN about the tightness in the physical gold market, and I wholeheartedly agree with him.” Turk also said, “This tightness is further evidence of the backwardation in the gold market I spoke about in our last interview. The most powerful rallies are the ones driven by a tight gold market, and that is exactly what we see right now.”

Here is what Turk had to say: “Both gold and silver don’t appear to be doing much since we last spoke, Eric, but appearances can sometimes be misleading. The action in the precious metals over the past couple of weeks has been very constructive, and here’s the important point. Slowly but steadily gold has been pulling away from $1580, while silver has been pulling away from $27. As I have been saying, I think those prices are history. We won’t see them again.”

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