Peter Schiff And James Turk – Possibility Of A Major Breakout In The Gold Market

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Below are comments from Peter Schiff and James Turk as the gold market flirts with a major breakout.

Peter Schiff & James Turk On Gold
June 13 (King World News
) – 
Peter Schiff:  “So far gold hasn’t broken out, but it hasn’t broken down either. The more time gold spends knocking on resistance’s door, the greater the likelihood that it will go through! 

Gold stock investors continue to dismiss any rally in the price of gold, as they believe no rally above $1,350 will hold. The market is braced for a sell-off. If one does not occur, and gold breaks above its 6-year resistance, gold stocks will have a lot of catching up to do!…


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The Fed’s Bluff Won’t Work
Peter Schiff continues:
  The Fed’s balance sheet ticked up last week to $3.85 Trillion. Perhaps it’s already seen its lows. When the Fed goes back to QE, the balance sheet will balloon to $10 trillion even quicker than it did to $4.5. But next time the Fed’s exit strategy bluff won’t work. Got gold?”

Turk: Another Good Day For Gold & Silver
James Turk: 
“Today was another good day. Next week we have another Fed meeting, and in recent years those are almost always met by price capping. It will be an important development if gold/silver climb higher next week regardless of the FOMC meeting.

Remember gold is still in a basing pattern. It hasn’t broken out yet from this base, and won’t do that until it hurdles $1365. So more back and filling is possible as gold tests support some more. 

It is very good news that gold tested $1320 and then bounced higher. It shows that there is a lot of money on the sidelines waiting to buy dips. This buying is from the value buyers and gold accumulators. 

The momentum guys are not even in there buying yet. Their buying won’t start coming in until they see $1365 hurdled. The gold chart looks really good.”

In case you missed it…

Another 52 Week High Yesterday
Eric King:  “Ivan, your company’s stock hit another 52 week high yesterday and today you have released the first historic drill results from the Sombrero project. Normally stocks take a breather after news, especially since you have been the top performing exploration company in the world in 2019, but can you talk about today’s news?”

Sombrero – A Major Discovery In Peru
A Major Discovery – Ivan Bebek: 
“This is a major result for us today as it shows the first look at the third dimension of Sombrero where our thesis that we could be onto a cluster that could potentially represent the copper-gold version of the Las Bambas district in Peru. The holes we assayed, although drilled in 2013 by a steel company looking for Iron skarns and drilled primarily within the sediments vs. the limestones, have confirmed our speculation that the impressive surface results continue at depth in a part of the Andes where some of Peru’s largest mines occur.

6 Major Targets, 6 Possible Major Discoveries
Our model has been validated and we have a finger print for the entire district in our northern claims where we have 6 major targets with multiple high grade copper and gold occurrences on surface in addition to Sombrero main.

Significance of the Results: 

  • Copper-gold sulphide mineralization extends to depth underneath the previously reported surface channel sample of 232 meters of 0.55% Cu equivalent (see April 3, 2019 release).
  • Copper-gold mineralization encountered at the Fierrazo target provides a clear analogue to discover additional large-scale mineralized exoskarn bodies within the Sombrero property, based on similar geophysical and geochemical signatures.
  • The mineralization encountered in the historical drill holes confirms Auryn’s belief that Sombrero has analogous geological and mineralization characteristics of the deposits of the Las Bambas district.

Auryn Resources, the top performing exploration company in the world in 2019, symbol AUG in the US and Canada. To read today’s exciting press release CLICK HERE.

***Also just released On The Heels Of Paul Tudor Jones Bullish Comments On Gold, A Monumental Shift In Sentiment Just Took Place In The Gold Market CLICKING HERE OR ON THE IMAGE BELOW.

***Also just released: Legendary Hedge Fund Manager Just Predicted Gold May Soar To $1,700 “Rather Quickly” CLICK HERE TO READ.

© 2019 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the articles is permitted and encouraged.

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