Thursday, July 24, 2014

Money on the Sidelines is Waiting to Move Into Precious Metals

The experience of the last several years tells us that we will see more attacks on the precious metals like the one the central planners engineered last week. We know from experience that these mini-crashes particularly occur before testimony before Congress by Fed officials, release of FOMC minutes, at month-end during option expiry, and before the U.S. unemployment report.

I am sure the hedge funds that trade gold have these dates marked in their calendars. But regardless, I do know that there is a lot of money on the sidelines waiting to buy physical gold and physical silver whenever we get bargain basement prices like we saw last week.

- James Turk via a recent King World News interview

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