With global stock markets remaining strong, today a man who has been trading major markets for over four decades spoke with King World News about the historic moves we are seeing take place in major markets which is shocking the world. Below is what James Turk had to say in his powerful interview.
Turk: “This is option expiry week for gold, Eric
The following is a missive that we received from Jim Sinclair who is the host of a web site called Jim Sinclair's MineSet. The above link will take to his site and his updates via email are free, so you have nothing to lose by signing up for them.
My Dear Extended Family,
The following was written at Changi Airport in Singapore on route to Dar es Salaam, East Africa, November 22nd 2013/
My presence in Singapore is a mission for us.
“I have not seen capital markets in the junior industry this gloomy for a decade,” Rick Rule told clients of Sprott Global Resource Investments Ltd. on a conference call Monday, November 18.
“Twice before, I have been in a market this gloomy,” Rick continues, “in 1991 and 2000. Within a year and a half of both periods
By Justin Spittler, Hard Assets Alliance Analyst
The announcement by Bernanke & Co. that the Fed would stay the course with its asset-purchasing program until it sees more evidence of a strengthening economy sent shock waves across the investment world. The Dow and S&P 500 has rocketed to all-time highs, and the dollar has plummeted. Interest rates have been dealt a stiff blow.
Though labeled as “stunning” by the mass media
By Saumya Vaishampayan and Michael Kitchen, MarketWatch
NEW YORK (MarketWatch) — The U.S. dollar rose against the euro Wednesday after Federal Reserve minutes suggested more willingness among officials to slow its bond buys, at the same time that the European Central Bank is mulling a potential deposit-rate cut into negative territory if more economic stimulus is needed
* Gold mine production set to reach record this year
* Slide in prices unlikely to cut output until 2015
* Weak demand likely to offset any prospect of supply cut
Credit Suisse’s Tom Kendall is on Kitco News to talk about the bank’s forecasts for gold, silver and the global economy. “We’re looking for average $1,150 in Q3 and Q4 next year so we’re still bearish from current levels,” says Kendall. Why are the bank’s calls so bearish?
Background
As a bull on both gold and silver I do expect that this sector will shine once again, hopefully in the not too distant future. However we are still of the opinion that this gold bull market remains in a bear phase for now. The timing of market directional changes is critical to the success of any investment. We all know that it is impossible to pick the very top or the very bottom of the market and so enter and exit the market with absolute perfection. That just does not happen, but it is incumbent on us to try and get as close as possible to these turning points in order to maximise our profits.
The June low for gold prices is widely believed to the bottom for gold
The latest World Gold Council Gold Demand Trends report, which covers the period July-September 2013, highlights the resilience of the global gold market in what is traditionally a slower quarter for gold demand. The continued growth in consumer demand across the globe and the strength of Asian gold demand overall, reinforces the patterns first seen at the beginning of 2013, clear evidence of the self-balancing nature of the global market
Chairman Johnson, Senator Crapo, and members of the Committee, thank you for this opportunity to appear before you today. It has been a privilege for me to serve the Federal Reserve at different times and in different roles over the past 36 years, and an honor to be nominated by the President to lead the Fed as Chair of the Board of Governors.
I approach this task with a clear understanding
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Monday, November 25, 2013 at 07:12PM