Anyway, the war on gold and silver continues. Perhaps the next battle will be fought next week when options expire. And maybe the central planners will win another battle, but what is clear is that the central planners are losing the war.
There is one other point I would like to mention, Eric: Maybe last week’s quick mini-crash is telling us something important. With both gold and silver - as well as the mining stocks - being so undervalued, the central planners can’t keep downward pressure on the precious metals for days or even weeks like they used to.
In other words, maybe last week was a historic turning point, and that one-day mini crashes - instead of long, drawn out corrections - will become the norm. Carrying this point one step further, maybe sub-$1300 gold is history, just like we will never see $1050 gold again. Given the strong performance gold has put in the past few days, it is possible that another important low was made last week in the uptrends for gold and silver that are now 13 months old.
There is one other point I would like to mention, Eric: Maybe last week’s quick mini-crash is telling us something important. With both gold and silver - as well as the mining stocks - being so undervalued, the central planners can’t keep downward pressure on the precious metals for days or even weeks like they used to.
In other words, maybe last week was a historic turning point, and that one-day mini crashes - instead of long, drawn out corrections - will become the norm. Carrying this point one step further, maybe sub-$1300 gold is history, just like we will never see $1050 gold again. Given the strong performance gold has put in the past few days, it is possible that another important low was made last week in the uptrends for gold and silver that are now 13 months old.
- James Turk via a recent King World News interview
