within an eight-month period of Sept. 2010 and Apr. 2011.
Speaking with SGTreport host Brandon Smith, Chairman Bill Murphy of Gold Anti-Trust Action Committee (GATA) said a longtime British “contact” told him that the month of August will usher in an event which will shock traders into buying the gold and silver bullion market aggressively again. Get my next ALERT 100% FREE
“The fellow I spoke with I’ve known for years, one of the wealthier men in all of Europe,” said Murphy. “He’s got a lot of connections . . . It will be tough for the gold and silver markets [during the month of July], but starting in August they would start to ‘go nuts’, and they would ‘stay nuts’ for a long time. . . Big, big moves are coming, starting in August.”
Murphy continued with the suggestion that the “big, big move”, starting in August, could possibly be triggered as a result of an announcement by the CFTC regarding its nearly four-year-long investigation into charges of silver market manipulation practices leveled against mega-banks JP Morgan and HSBC, the two banks that Murphy and his associates at GATA have accused for more than a decade as the kingpins of the gold and silver market cartel.
“I’ve a great deal of respect for Bart Chilton, one of their commissioners,” Murphy explained. “I’ve met him twice—communicate with him here and there—he doesn’t tell me anything he can’t—but he told me . . . I don’t know . . . two, three months ago, that we should be hearing something [announcement] in three or four months, either way. So, that would put it [the announcement] in August.”
Echoing predictions for a late-summer rally in the precious metals market, Goldmoney’s James Turk, told King World News, Jul. 16, the factors that soared precious metals prices in 2007, 2008 and 2010 are, again, in place for another stellar move to the upside this summer, as well.
According to Turk, in addition to the volatile credit markets in Europe, prices of food commodities are expected to jump sharply in August in response to global drought conditions, including severe drought conditions in the world’s breadbasket, the United States, not witnessed since the 1950s. Turk expects the commodities market to spark another eye-popping move in the precious metals.
“There is a new factor at work that is about to light a fire under the precious metals that few people recognize – food inflation,” said Turk. “It was one of the key drivers in the summer of 2010 which launched the huge rally that eventually took silver near $50 and gold to a new record over $1900.
“Food inflation was also a factor in the big run-up of the precious metals in 2007, and early 2008, when food riots broke out around the globe because of high prices,” added Turk, and conclude, “food inflation will again become one of the drivers sending gold, silver and the mining shares much higher from here.
“The summer doldrums are over. Gold and silver are ready to get exciting once again. We can expect a rally from here that will take our breath away.”
Related Tickers: SPDR Gold Trust (NYSEARCA:GLD), iShares Silver Trust (NYSEARCA:SLV), iShares Gold Trust (NYSEARCA:IAU), Sprott Physical Gold Trust (NYSEARCA:PHYS), PowerShares DB Gold Double Short ETN (NYSEARCA:DZZ).
BeaconEquity.com is committed to producing the highest-quality insight and analysis of small-cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily OTC stocks in the stock market today, which have traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.