January 29, 2019
With gold punching above $1,310 and silver surging toward $16, today James Turk told KWN“This move is real.”
January 29 (KWN) – James Turk: “This move is real, Eric. We’ve got gold over $1,300 and it’s in a powerful uptrend. Silver is breaking through its resistance at $15.80 and looks ready to head higher along with gold…
Money Flowing Into Mining Stocks
James Turk continues: “Importantly, money is not only moving into precious metals but into the mining stocks as well. There is some caution and hesitation by many investors. This caution is understandable in view of what investors in the precious metals sector have gone through in the past several years. But bull markets always begin this way, Eric. They are always climbing a ‘Wall of worry,’ so we have to step back from the trees and take a look at the forest.
Expect Upside Surprises In Gold & Silver Bull Markets
In that regard, there are two things to focus on: how undervalued the precious metals are, and secondly, how many bullish factors indicate that 2019 is going to be a great year for gold, silver, and the mining stocks. For what it’s worth, Eric, the powers that be could not keep the precious metals down during this option expiry week, at least up to now. And if this bullish trend continues through tomorrow, after the FOMC announcement, that would be an even bigger surprise. That is very unusual and it’s an important sign when markets trade differently like this. Or said another way, there is a lot of buying pressure in the market, which just goes to show that surprises in bull markets almost always happen on the upside. Enjoy the ride.”
_________________________________