So this will run its course, and I noticed Turk said in his (KWN) blog that it could get down to $35 and I have no problem with that, I mean it’s just all noise here. It (silver) is just rebuilding its base for the next move, and the next move I think is going to be huge in both silver and gold. I think silver will easily take out $50 and gold will probably hit Sinclair’s long awaited $1,650 and go right through it like a hot knife through butter.”
When asked if this could be a big summer for gold and silver Embry replied, “Without question. One of the reasons I think so, aside from the obvious fundamentals which are screaming that people should be buying gold and silver, the other aspect is the remarkably negative sentiment. It’s shocking actually, considering what’s going on... KWN LINK
James Turk 6/2/11: “We may have a little bit more time to go in terms of backing and filling and I don’t rule out another test of $35 on silver and maybe back into the $1,520’s on gold. But on the other hand gold looks very, very powerful here. It hardly corrected at all compared to silver which is why the ratio has gone back up over 40.
I’m sticking to what I said last time we spoke that this summer is going to surprise a lot of people, how powerful the metals are going to be on the upside.
James Turk 6/2/11: “Silver is sort of taking a back seat for a while and that’s ok. It was the star for nine months, so it’s resting...If you are a silver bull don’t lose heart here, it’s just a normal rotation between the metals. I think a lot of the hedge funds are starting to play the other side of the trade.
For a while the trade was to be long silver and short gold and now those trades are being unwound. They (hedge funds) are being long gold and short silver, but this is only going to last a couple of months. If gold is stronger this summer as I expect, then silver will be stronger as well. KWN LINK
James Turk 6/2/11: Look for QE 3 or whatever they call, doesn't look that the policy makers will change course anytime soon", Interview to listen click link to KWN
James Turk 6/2/11: Look for QE 3 or whatever they call, doesn't look that the policy makers will change course anytime soon", Interview to listen click link to KWN
Sean Boyd 6/1/11: "So I don’t think it’s going to be a quiet summer at all, I think we are going to set a new record. As we move into the fall we are going to see $1,800 because the buying is coming out of the far-east. You could get to the point where you get China and India consuming two thirds to three quarters of the annual mined output, the demand has been so strong over there".
Sean Boyd 6/1/11: “Well the last time I was interviewed I said silver would get up to $50 and I was even surprised at how quickly it happened. It did get ahead of itself, but I don’t think there is any reason to believe it cannot get back to the $50 level when gold is at $1,800 and both of those things are going to happen.” KWN LINK
Rick Rule 6/1/11: “Yeah I think there is absolute shortage in the physical market. There has been some softness (in the price) which I think is mostly a function of two things, generally a sort of risk off trade as institutional investors in particular have found credit conditions more difficult, and of course the tightening of the margin requirements in the futures markets. But I don’t think that has obviated the near-term physical shortage which has come about from very, very strong retail end user investment demand and a shortage of coin strip.”
Rick Rule6/1/11: When asked if silver was set up for a rally Rule responded, “I’d have to say yes, in the sense that I see a bunch of circumstances that are bullish for precious metals still, and silver would appear to be the affordable trade" KWN LINK
Bill Fleckenstein 5/31/11: Large fund flows into silver will cause a spike in price. “People have to recognize that silver is a much smaller market than gold, and as a consequence is more volatile. One of the reasons why some of the big numbers on the upside get tossed around is that if a lot of money decides it wants to own silver, given the size of the silver market, then it could trade at some big price.” KWN LINK
Richard Russell 5/30/11: Advises his subscribers to buy Silver again KWN LINK
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