Tag: james turk

Determining the value of gold

| September 30, 2012 | Articles: Insights
Determining the value of gold

When considering whether gold is a value investment, one needs to first recognise that gold does not have a balance sheet, management team, price-earnings ratio or any of the other things one needs to analyse before making an investment. Also, gold does not generate any cash flow, so it does not pay a dividend. We can therefore conclude from these observations that gold is not an investment. Indeed, it is something different, which means that normal investment analytical techniques cannot be used to determine gold’s value. Value of course arises from an item’s usefulness, and gold is useful because it is money. Though only used as currency these days in […]

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The silver streak has only just begun

| September 10, 2012 | Articles: Gold Silver Prices
The silver streak has only just begun

Following Friday’s dramatic price surge in response to the Bureau of Labor Statistics’ August jobs numbers, precious metals have cooled a little in trading this morning. Wednesday’s German Constitutional Court ruling and Thursday’s FOMC verdict are the big market-moving events to watch out for this week. The European Central Bank’s insistence that its unlimited purchases of sovereign debt from troubled eurozone nations will be “sterilized” offered a sop to the Germans, though some have doubts about this. Robert Wenzel points to a little commented upon ECB press release that announces the suspension of “the application of the minimum credit rating threshold” on collateral used to access short-term loans from the bank. At […]

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James Turk: Gold Is In Backwardation & About To Rocket Higher

Today James Turk told King World News that gold is now in backwardation and about to rocket higher. Turk also warned, “The bottom line is we are in a fiat currency bubble.  Eventually this bubble is going to pop because we are using this fiat currency, backed by nothing, not just in one country, but throughout the world.”   Here is what Turk had to say:  “This is exactly the kind of action I had been hoping for, Eric.  When had the KWN blog interview on Wednesday, I had mentioned that we probably missed the last chance to buy gold at $1,580, and silver under $27.” James Turk continues: “The way the […]

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When bailouts don’t work

| July 9, 2012 | Articles: Insights
When bailouts don’t work

Sometimes bailouts do not achieve what is intended, which is one reason they should be avoided. The people of Iceland apparently have some discerning insight into this basic financial reality. When a financial collapse over three years ago sent their economy into a tailspin, Icelanders were given a chance to vote on whether they should impose more debt on themselves in order to bail out insolvent banks. The Icelanders decided to reject the proposed debt burden and the accompanying draconian austerity that would be required. As it turns out, they chose wisely. Happily, Iceland’s economy is back on its feet. As the BBC reported a few months ago: “Iceland is […]

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Where was the gold?

| July 1, 2012 | Articles: Insights
Where was the gold?

I am an avid reader of monetary history. Of late I have been focusing on the monetary events of the 1920s and 1930s. By learning from the maelstrom that riled the global financial scene during those two tumultuous decades, I aim to better understand present circumstances because there are many similarities between then and now. I’ve just finished a fascinating book published in 1955 entitled Confessions of The Old Wizard. It is the autobiography of Hjalmar Horace Greeley Schacht, whose improbable name reflects his North Schleswig ancestry and his father’s admiration of an American newspaper editor. For those not familiar with him, Schacht is generally given credit for ending in 1923 […]

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Fear Index update: June 2012

| June 23, 2012 | Articles: Insights
Fear Index update: June 2012

The constant talk about gold’s lack of yield, which in many analysts’ opinion disqualifies it as a desirable asset, ignores the very important and extremely valuable function that gold performs as an independent and reliable store of value. Savings and liquidity have value, especially in times of uncertainty, and so does insurance. Gold is money and it is also insurance against the failure of fiat currency. How much is it worth to protect your hard earned wealth from the arbitrary decisions and regime uncertainty that permeates the world of monetary policy? The simple fact is that people around the world – particularly in Asia – are willing, as many have […]

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James Turk: Gold Will Shock Investors By Soaring This Summer

With continued uncertainty in major markets, as well as gold and silver, today King World News interviewed James Turk out of Europe. Turk discussed the aftermath of the Greek elections and what investors should expect going forward.  H is what Turk had to say about what is taking place:  “The Greek election has come and gone, Eric, but the Greek vote has changed nothing.  Europe is still in a severe crisis, and every attempt to solve this crisis has failed because no serious solutions have been proposed.  All the central planners did was buy time, and that precious time has been squandered with their various schemes.” James Turk continues: “There are two […]

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EU treaty talk calms markets

EU treaty talk calms markets

Precious metals had a quiet day yesterday, with gold and silver both consolidating following Friday’s rally. Gold continues to face resistance at $1,625, while $28.50 remains a point of selling pressure for silver – as has been the case now for the best part of the last month. James Turk sums up Friday’s gold and silver strength in a new King World News interview: “even though stock markets around the world the past few weeks have generally been in a nosedive, gold, silver and the mining shares are climbing higher. Independent strength like this is normally very bullish, and it bodes well for the precious metals and mining shares in the […]

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The race to debase proceeds apace

| February 20, 2012 | Articles: Gold Silver Prices

Gold and silver have opened today on a strong note – silver in particular buoyed by signs that at long last, we may be reaching a definitive deal on a €130 billion bailout that will allow Greece to avoid defaulting on its sovereign debt. Precious metals and risk assets such as mining stocks have also been boosted by news that the Chinese authorities have cut bank reserve ratios in China. Combined with news that Iran is halting oil shipments to the UK and France, and it’s no surprise to see oil prices surging higher, with Brent crude up 0.98% on Friday’s close at over $120 a barrel, and WTI even […]

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Great Deals on Gold and Silver

Great Deals on Gold and Silver

GoldMoney Founder and Chairman James Turk knows how to find great deals on gold and silver. He claims that the 2012 bottom for gold came during the first week in January. If the year’s low is already history and if his projection that gold will hit the $2,000/oz mark within three months is on target, you do the math. “Gold is way too cheap,” he tells The Gold Report in this exclusive interview. The Gold Report: Given the volatile 2011 market and the fact that gold trades at seasonally lower prices in the summer, James, what led you to say you believe we’ve already hit the low for the gold price in 2012? […]

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Gold is money?! Indians to pay for Iranian oil with gold

Markets enjoyed another “risk on” day yesterday, with stock markets and commodities all recording gains on the back of a weakening US dollar. The Dollar Index fell below 80, with the gold price also benefiting from increasing brinkmanship between Iran and western nations, with the European Union announcing the implementation of an embargo on Iranian crude oil. Comex gold futures for February delivery gained 0.9% to settle at $1,678.30 per troy ounce. Silver for delivery in March gained 1.9% to settle at $32.27 per troy ounce – another solid day for the white metal, though it keeps banging up against selling resistance around $32.50. Greece is once again the topic […]

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Fear Index shows that gold is undervalued

| January 25, 2012 | Articles: Insights
Fear Index shows that gold is undervalued

The year 2011 ended on a very weak note for the price of gold, which tested support near the lowest levels since August as the precious metal slid below $1,550. This movement even drove the GoldMoney Fear Index below 3% as US M3 continued to rise, surpassing $14.4 Trillion. The downward path of gold since the September highs immediately prompted cries that the “bubble was bursting” from every corner of the financial press. They could not be more wrong. Neither a rising price, nor anecdotal reports of increased buying are in any way proper evidence of a bubble. If we ignore the chatter and actually look at empirical data, it […]

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James Turk: Silver, the next Apple?

| January 6, 2012 | Articles: Experts Talk

More downbeat economic news from Europe yesterday sent the euro down to $1.2790. As The Wall Street Journal points out, this is the single currency’s lowest level against the US dollar since …

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