Friday, September 28, 2012

The Battle Over Gold and Silver

“It's a real battleground out there, Eric. It started at the beginning of last week when gold was looking like it would break through $1780 while silver was already climbing through $35. But then the shorts started throwing everything they could at that price advance and stopped both precious metals.

“Hitting a wall like that caused a reversal, but support quickly showed up in the $1750s and around $34. The same thing happened twice last week, but the week ended for the precious metals in a stand-off. Then today the battle started again when the shorts started pounding gold and silver here in Europe.

But just like last week, the buyers of physical metal showed up when gold dropped into the $1750s...."

- James Turk via a recent King World News interview, read the full interview here: