James Turk Favors Silver in ‘Ongoing Bull Market’
Posted by Investment Rarities on February 22nd 2012 in Bailout, China, Federal Reserve, Gold, Goldman Sachs, Monetary Policy, Short Sellers, Silver, Wall Street | Be the first to comment!
“The reality is, is all of this money printing, all of this debt is going to end up badly and in that kind of environment, gold and silver will both soar and that’s what we’re about to see here with the way the metals are trading,” predicts James Turk, in a interview with Mineweb, adding that “You really can’t predict what event or what catalyst will occur to cause the metals to move higher, it’s just an ongoing bull market.”
Last week Turk told Hard Assets Investor that “As bullish as I am on gold going forward, I’m even more bullish on silver, because my expectation is that their ratio is going to continue to fall as this precious metals bull market continues to move forward.” He also said that “silver, interestingly, is still in stage one of its bull market. And that’s why it gets so little attention worldwide, compared to gold, for example. But when silver goes above $50, it will be just as significant as when gold went above $1,000. Silver will be entering stage two of its bull market.”
He recommends “two-thirds gold, one-third silver and by the time this bull market is over, the silver component of your portfolio will have a higher currency value than the gold component because of the outperformance as a result of the decline in the gold-silver ratio.”
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