by Chris Waltzek
Bill Murphy from GATA.org returns to the show with his latest insights on the PMs sector. He was awoken this morning by the sound of arms fire near his home in Dallas, near ground-zero of a tragic sniper shooting, that fell 11 valiant police officers, critically wounding at least 5. Our guest notes the positive reversal in the price action of the gold and silver market – brief selloffs tend to reverse sharply on the upside, a hallmark of a solid bull trend. Even bearish news on Friday morning was unable to dampen the bullish sentiment in the PMs community. If silver can hold support above $20 on the weekly chart, the next advance could culminate in $25-$26. A highly successful hedge fund manager, a regular on Bloomberg TV / CNBC, and friend of the show who correctly predicted the gold bull market of 2001-2011 and the top in 2012 told the host in confidence this week that the bull market in PMs is confirmed.