Tuesday, May 24, 2011

James Turk: Gold Nearing a Staggering Up-Move

James Turk in his latest is calling for a repeat of gold's 1982 action this summer (for those who don't remember, in 1982 gold soared 50% in less than 3 months over the late summer).
That means Turk is looking for a gold price of ~ $2250 by fall.
If Turk and others such as Sinclair are correct, and gold reaches anywhere near $2250 by fall 2011, The Doc's call of $80 silver by end of November will be in the bag. We recommend readers continue to accumulate physical silver during this consolidation period, and be prepared to buy further this week thanks to cartel games during options expiration. Once option expiration is passed and the cartel's recess is over, look for silver to make an attempt at the $40 level over the next 1-2 weeks.
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