James Turk Silver to reach $50 by 2011

James Turk : "We're probably going to see $1,800 - $2,000 this year on the gold price and silver looks like it's going to go to at least $50, given the way the backwardation is forming right now... The demand for physical metal is just absolutely huge and the paper market is being more and more discredited as a price discovery mechanism. As a consequence you're going to see even greater demand for physical silver as we go forward." - in mineweb.com

James Turk : Silver in Prolonged backwardation

James Turk says that Silver is in a prolonged backwardation , basically silver was in a backwardation since January , a backwardation happens when the spot prices are higher than the Future prices it is a very rare very unusual very bullish situation , normally when a commodity goes into backwardation it lasts just for a short time but Silver was in backwardation since January , even if the price of silver has risen it remained in backwardation which is very very rare says James Turk "my long term forecast for Gold and Silver and this is a forecast that I made in 2003 , it is $8000 Gold and $400 Silver sometime between 2013 and 2015 " he says , sovereign debt is a form of feudalism says James Turk....
I this interview with the french radio host Jovanovic James Turk from Paris gave his prognostication about the Gold and Silver market and answered a range of other questions , he said that he predicts Gold price to hit $1800 before June and Silver $50 in a couple of months , in the video James Turk starts speaking at around 02:11 and he speaks in English with a french translation , so you can watch the video even if you do not understand french , English starts after 2.12, covering gold/silver predictions, JPM, backwardation

Silver in Backwardation, Set to Explode says James Turk

James Turk has alerted King World News that silver is in backwardation. Turk spoke with KWN saying, “Silver is in backwardation which is an extremely important development. Most are aware that when backwardation occurs, the spot price is higher than the futures price. Backwardation happens regularly in most commodities, but it is rare in the precious metals.”
read full article from KWN >>>> http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/1/21_James_Turk_-_Silver_in_Backwardation,_Set_to_Explode.html

James Turk and David Morgan on the silver price and CFTC

In this timely video, David Morgan of Silver-Investor.com and James Turk discuss current high silver prices and the CFTC's investigation. Recorded on November 6, 2010.



A massive increase in short position of non-US banks has increased almost 1000% from 614 contracts in July to 6,329 contracts in December + 5,715. This offset the decline in the short position of the US banks over the same period which has reduced from 31,803 contracts to 26,332 contracts (delta -5,471 contracts). Which non-US bank(s) has increased its short position? What is relationship to the US Bank mega-shorts, JPMorgan and HSBC? Adrian Douglas I think we have seen the asian physical bulls (sovereign or not) take control of the market for the most part. Silver has shaken a a bit of it's outright correlation with gold while the GSR is in a major downtrend. QE2 will likely be $1.5 trillion + not including any swaps.  QE3 has been mentioned already.

There is no stopping the technical trend without a fundamental change, not considering volatile short term price movement.

Thank you Jim and Thank you David. All the Best.

Upside Explosion in Silver once it breaks $21: James Turk

"While gold is moving higher, I am really focused on the $21 level in silver to be hurdled because that's when the upside explosion that we have been talking about is really going to start." ,   James Turk , he makes a good point about how much silver is actually left in the ground. I have long suspected that it is no longer 16/1 and more like the 8/1-12/1 you mentioned. Still, I have not seen any figures as to what is still there. Stands to reason though since, as u point out, silver is close to the surface and gold is deep. Everyday there is more gold and less silver available. Roll on the 8/1 ratio. Some of us will be partying like rock stars! Absolutely, same applies to gold jewellery..there is more silver utensils and coinage above ground than gold too.However the 16:1 ratio in the ground is debatable but it's safe to say that the ratio is probably closer to between 8:1 - 12:1 in reality as silver supplies in ground are drying up a little (as it is found closer to the surface than gold and has been easier to obtain) therefore most of the available silver has already been found at this point.