Gold and Silver Have Bottomed - James Turk

James Turk Founder & Chairman of Goldmoney.com in an interview with King World News was asked if he we have seen the lows in gold and silver. James Turk replied

“The sharp rally that occurred today off of those support zones suggests to me that the correction is over. In other words we are going to see silver back above $40 and gold above $1,550 within the next couple of weeks. Everything is all set for new record high prices in both metals this summer, which is going to surprise a lot of people.

I just think that people don’t really understand what can happen this summer. We’ve spoken before about the summer of 1982 when the gold price rose 50% from June to September, propelled back then by the Mexican debt default.

There are so many potential debt defaults going on today it is hard to figure out which one will be the tipping point. But whether it is Greece or Ireland or someone else it doesn’t really matter Eric, it will be a clear sign that today’s fragile monetary system of fiat currencies backed by nothing is imploding...."

Read the full article here.

There's also an audio interview here.

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