from King World News
Despite the large commercial short positions, today James Turk told King World News that the gold and silver markets are about to shock market participants.
James Turk: “The week has started out very quietly, Eric. But it would be unusual for the calm to last long…
[…] James Turk continues: “This coming weekend is Easter, and much of the world celebrates with a 3-day or even a 4-day weekend like here in London. Typically there is short covering by the specs in gold and silver before a long weekend.
The spec shorts will often cover their entire position so that they don’t have to worry about an event or some government pronouncement over the holiday weekend that sends the gold price higher. It therefore seems reasonable to expect the slow climb in the gold price to continue as we work toward the end of the week.