Will Silver Prices Be In The Thirties Range Just A Few More Days?

July 15, 2011 - PRLog -- Silver will probably be in the 30's only a few more days or will it keep on heading higher? Silver is currently trading at $38.33 at the time of this composing. With silver and gold rallying strongly in opposition to the wave of the risk-off market, bullion professional James Turk forecasts that silver is about to start in to the 40s, as more anxious traders come to terms using the inevitability of further devaluations and/or sovereign non-payments, pressured on the world’s central banking institutions by traders and weak political figures. Go to http://www.silverdollar.cc for more profitable silver and gold tips.

“One never knows exactly how the markets will unfold, but my sense is that we only have several more days of silver in the 30s,” Turk informed King World News. “Once silver clears $38 on a closing basis, you are going to get back into the mid 40s in a heartbeat.” That is my sentiment also.

Turk, the founder as well as president of overseas precious metals storage company Goldmoney.com has warned in the past of the occasions playing out in Europe these days, so his words have substantial weight amongst the bullion neighborhood. The right time of his call back again in January for silver to attain $50 by June 30 was regarded as reckless as well as daring in the time. However history has proved him right. Silver attained an intraday high of $49.70 on May 2, just pennies shy of $50 and a month faster than he anticipated. Go to http://silverdollar.cc for more profitable silver and gold tips.

Lately, Turk has differed with an additional hard-money advocate, Marc Faber, around the path of precious metals prices throughout the months of July and August. Faber is expecting the gold and silver to meander in the scorching summer time months, which is really a wager the long-standing historical record of weakness throughout that time, is most likely. However, Turk looks for a repeat of 1982, the year of the Mexican peso devaluations.

“The action in gold and silver so far this summer indicates to me that this is in fact poised to be explosive on the upside,” Turk spelled out. “Nobody is talking about this, but it could be a reality in short order. Here it is nearly 30 years after the breathtaking summer of 1982, and history is about to repeat all over again.”

Turk’s challenge with Marc Faber in the battle to become right on the final result of precious metals throughout the summer time months favors Turk, in the moment.

Gold and silver took the main stage throughout the flurry of bullion-friendly information coming from each sides of the Atlantic, yesterday. The timing of the information releases from each sides of the Atlantic appeared contrived, timed and salvo-like, as the dollar and also euro battle it out in the race to reduce sovereign financial debt loads via currency devaluations. Gold attained new highs in the euro as well as a new closing high in US dollars. Generally, gold was the victorious one in the scramble from euros. Check Out Silver, Selling Gold, Trade Gold, Invest In Gold, Investing In Gold & Silver Now! http://www.silverdollar.cc/Selling-Gold/

Tuesday’s information of widening spreads among the German and Italian 10-year notes, as well as soaring CDS pricing of Italian financial debt; an IMF warning introduced from the new French (but Ameri-centric) chief, Christine Lagarde, at Italy, chiding the Italians for dragging their feet on applying its personal austerity strategy; Moody’s downgrading Ireland to junk; FOMC minutes released, which strongly hints in the chance of further stimulus in the Fed is coming; the posturing war that has broken out among Democrats and Republicans over the U.S. federal spending budget; and also the timely building up of the Japanese yen to help save the day from the dollar breakout of 76 on the USDX have shown the frustration amongst the officialdom and also the equally terrified investor who searches for any really safe haven.

“Eric this is the start of the next big leg higher in the precious metals,” recommended Turk. “We’re at a new record closing high in gold today, that is extraordinary considering it is happening against the headwind of a stronger dollar. There is an important message here, Eric, money fleeing the Euro is not just going to the dollar, it’s flowing into the metal of kings.”

Because the public enjoys summertime holidays and respite in the every day slew of bad financial and political information, Turk together with Max Keiser of the Keiser Report, sees the investor public mainly unaware of the theft of buying power presently in progress. But for that precious metals stalwarts and current converts, this summer time might be a very lucrative one.

“People are recognizing that the only true safe haven is the precious metals,” stated Turk. “There are still so few people talking about gold and silver having an explosive summer. The only place I’ve heard it is on KWN. The fact that there is still so little bullish sentiment just reconfirms my view that gold and silver are ready to rocket higher.” It'll be mighty fascinating to determine if silver does certainly exceed $38, and when an assault on the May 2 high is in store for the silver devoted. This will be the right time for you personally to make investments in silver and add it for your portfolio to safeguard your assets and wealth. Just do it!

# # #

Silver Dollar is really a well-loved commodity among collectors. Several discovered collecting the Morgan and Peace silver dollars to be profitable.