Gold bargain prices were simply not sustainable.

James Turk: “I think the most important thing that has happened since we last spoke two weeks ago, Eric, is that gold has risen $148 from its low, while silver is $2.25 above its recent bottom. Those are jumps of 11% and 10% respectively. 

It is an indication that precious metal prices were pushed to a such an extreme that those bargain-basement prices were simply not sustainable.

“We have surely seen a buying panic in GoldMoney, and it has been the same situation for other metal dealers based on information I have received.

On World King News


Look at the US dollar purchasing power in the History.....

Meanwhile Australia’s Perth Mint, which refines nearly all of the nation’s bullion, said that demand has jumped to the highest level in five years after prices plunged, with the factory kept open through the weekend to meet orders.

There’s been strong interest, including from the U.S., with buyers speculating that the metal will rebound from the decline, Ron Currie, sales and marketing director, said in a phone interview from Perth.