Monetary metals recovered from paper slam in just a week, Turk notes

Section:

10:15p ET Tuesday, January 15, 2013

Dear Friend of GATA and Gold:

GoldMoney founder and GATA consultant James Turk tonight tells King World News that while the Bundesbank's reported plan to repatriate Germany's gold could shock the market, something stunning already has happened in the market in the last week. That is, both gold and silver recovered quickly from another paper raid by the central planners.

"There is a real limit as to how far the price of gold and silver can be driven by these deliberate paper market interventions," Turk says. "Given how quickly the precious metals have bounced, it seems to me that this limit was reached for gold and silver at $1,625 and $29.25 respectively. These price levels represent the new floor in the precious metals market. At those prices the demand for physical metal simply overpowers the selling from the central planners and their agents."

An excerpt from the interview is posted at the King World News blog here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/1/15_Tu...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.



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