Tuesday, June 4, 2013

A Selling Climax in Gold and Silver

“Gold has now risen two weeks in a row, Eric, and with the strong showing today, maybe it will end this week by scoring three in a row. That would be a very positive development. The really important point is that gold and silver are steadily moving further away from the low made on Monday, May 20th, as evidenced by their short-term moving averages.

You will recall that both precious metals opened lower that day and sold off badly before putting in a remarkable upside reversal as the day wore on. That day had all the earmarks of a selling climax in both gold and silver, so it could prove to be an important turning point and if so, the end of this long correction in the precious metals which would be a welcomed relief...."

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