In the face of this week’s massive cartel intervention knocking down the metals in the wake of QE4, James Turk has just revised his $8,000 gold target- but NOT to the downside.
Turk states he now expects gold will surpass $8,000 an ounces in the next 3 years.

Recalling that gold was $350 back in 2003, and the DOW Jones Industrial average was about 9500, I forecast that gold and the DOW would be 8,000 some time between 2013 and 2015. Given that that this time frame is now upon us, I would like to discuss the basis on which I made that forecast, and more importantly, update it in one significant way; I now expect that the price of gold will rise higher than $8,000 per ounce as I will explain.

Turk’s full update below:

 

2013 Silver Eagles As Low as $2.59 Over Spot at SDBullion!

 

  1. When has Turk been right in the last two years. Don’t listen to expert pie in the sky. Stack and have realistic price goals. In fact forget about price. Just accumulate precious metals as an asset. If you are young that will pay off over time. If you are old, well, you’ll leave something nice for your estate.

    • I have followed James Turk on a regular basis for several years and I can’t think of any examples where he has been materially wrong except perhaps that this consolidation period that we are currently in has extended longer than he expected.  Different from so many, Turk has the professional background and experience to know what he is talking about.   I find that he is one that has consistantly been right.  

  2. The US dollar is going in the crapper in a big way. No-one apart from the Japanese and the Fed are buying US debt anymore. The Chinese are massively buying physical gold from the dumbass roundeyes as they intend to back their currency with gold. As Jim Sinclair just said today “this is the biggest manipulative play in gold ever. The only good part is as soon as the criminals have their positions filled, we are off to $3500 and above.”

  3. I find it hard to believe that gold/silver won’t overshoot in terms of purchasing power. Eventually 2oz of silver may very well buy a tank of gas, but before the price action settles down, it could be much much less. That is the time to sell. I wonder if commentators like James Turk will advocate selling when the time comes. I won’t count on it.

  4. It seems that there is way more action over the last few months. That should not be surprising since there is a great deal of unsettling activity in the Japanese yen and their horrible financial debasement and slo mo decline, China’s slow down and QE printing, the European situation (nothing but bad news) and that does not include the ongoing re(de)pression even if the Greek issue seems resolved for now—and then there is the US.  There are way to many things to cover here.
    So what does a bank or cartel or some unnamed entity do when the major financial empires are crashing.  Send in the troops to fight a rear guard action (that the bankers protecting the US dollar) while the elites try to figure out how get a handle on how things are going so bad in their plan to implement the New World Order. The sheep are walking up and are not following the script.  PMs are the only shining light to those who know what is really valuable so they have to take the heat and be pistol whipped for being the vanguard of the good guys. The precious metals seem to be taking the flack and punishment for the sins of others.  These are just idle musings but me instincts tell me we are winning slowly but surely, by attrition and by concerted action. The big hats doing their thing, like Sprott, Sinclair and the other silver speakers. The small hats, like us inveterate stackers, do out thing by gobbling up silver in any and every way possible.
    I look forward to the future as I am optimistic that the ‘Good Guys—The White Hats’ will prevail

    • Good post AGX, the more even the small stackers take away from cartel control the more they lose their grip on the market. Death of a million cuts.

  5. GOLD: $8,000
    SILVER: $800 – $900

    (the new out-of-ground mining ratios reflect the higher price)
    (the lower price is derived from the above ground reserves)

    IMO Silver may over-shoot because it is so under valued at this time. It will have massive
    upward momentum, and could experience a buying frenzy that does not stop in time. That
    could be a big-time SELL signal, or convert to Gold. Just my 2 oz Worth!!! 

Leave a Reply