Tuesday, July 17, 2012

Food Inflation to Propel Commodity Prices Higher

"There is a new factor at work that is about to light a fire under the precious metals that few people recognize - food inflation. It was one of the key drivers in the summer of 2010 which launched the huge rally that eventually took silver near $50 and gold to a new record over $1900. Food inflation was also a factor in the big run-up of the precious metals in 2007, and early 2008, when food riots broke out around the globe because of high prices.

The worsening drought in the midwest means that food inflation will again become one of the drivers sending gold, silver and the mining shares much higher from here. The summer doldrums are over. Gold and silver are ready to get exciting once again. We can expect a rally from here that will take our breath away.”

- James Turk, via a recent King World News Interview. Read the full interview here: