Gold, Silver And Mining Stocks Explode Higher, Silver Is Set To Soar
Gold, Silver And Mining Stocks Explode Higher, Silver Is Set To Soar from King World News
Last week King World News told its global readers that the US dollar breaking decisively below 92 would cause the price of gold to explode higher (see below).
(Last week on KWN)
This Will Reverse Gold Price Higher
King World News note: The US Dollar Index is in danger of a major breakdown if the 92 level is decisively taken out on the downside. If that happens, the gold market will explode higher in an instant.
If US Dollar Index Decisively Breaks 92,
Gold Will Explode Higher
That’s exactly what we have seen today as the price of gold has surged nearly $40 and silver is up close to $1.50 on the dollar’s decisive plunge. For additional information on the gold and silver rally read what James Turk has to say below:
Big Day For Gold & Silver
James Turk: More often than not, Eric, the central planners do a pretty good job of containing precious metal prices during month-end option expiry. And the expiration of the December options was worse than most months.
Fortunately that episode is now behind us. And the February options don’t expire until the end of January, so we should have several weeks of clear sailing with minimal effort by the central banks to control precious metal prices. Their power is limited, particularly when recognising that gold and silver are undervalued at current prices.
So it’s time for gold and silver to catch up with all the other markets soaring as a result of the two things central banks are doing.
First, there is all the money printing by central banks around the globe. Second, the world economy is still contending with central bank financial repression resulting in negative interest rates…