James Turk of Gold Money Report talks about Gold and Silver 's slow day. Mr. James Turk reveals that he sees no resistance after Silver breaks through the historic $50 barrier.
James Turk : we almost touched $50 /oz silver in Asia , then we backed off a little bit , the markets today are closed in Europe for the 4 days Easter holiday so it will be interesting to see what happens when they come back tomorrow , given the amount of the buying power that we are seeing in the market you have to assume that we will be seeing higher prices in the weeks ahead , once we are over $50/oz there is no resistance as the way I see it says James Turk , go back and look at the DOW when we went over a thousand back in 1982 it just kept going and going and going , the same thing could be happening here with silver for the next couple of years , because the supply /demand picture is very good and everybody knows the problems with the US dollar ...silver is still a cheap form of gold on historical averages and that's attracting a lot of people into the market ...
Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) , Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)
Silver to become a rare earth metal , it is Extremely undervalued. Silver to become extinct by year 2020 according to geologists only 300 millions ounces left! Silver is consumable industry metal it is used up : 95% gold ever found is still around 75% of silver is a by-product of mining other metal only 25% is primary product of mining,In 1480 the price of one ounce of Silver was equal to one ounce of Gold, Low supply, high demand Price to skyrocket get your silver and stay long!
Silver, above ground, is more rare than gold! There is seven times as much gold above ground as compared to silver!
Monday, April 25, 2011
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GOLD is the money of the KINGS, SILVER is the money of the GENTLEMEN, BARTER is the money of the PEASANTS, but DEBT is the money of the SLAVES!!!