James Turk - Silver Forming Another Bullish Flag Formation

[bobbyw24]

With silver down just over 4%, the dollar continuing to grind lower and gold consolidating, today King World News interviewed James Turk out of Spain. When asked about gold and silver Turk responded, “Nearly all of Europe is closed today to celebrate May Day, and Asian markets are notoriously thin even in the best of circumstances. So when the news of Bin Laden's death hit the tape, the dollar bounced in an emotional knee-jerk reaction. Silver was pummeled, and gold ended slightly lower. The important point Eric, is that both metals are bouncing back.”

When asked about the violent action in the metals Turk replied, “The volatility scares a lot of people, which is understandable. It can be heart-stopping to see silver drop 10% like it did, but silver is not unique in this regard. Even blue-chip stocks or other high-quality assets drop in price during certain periods. Unfortunately, those big price drops can easily cause you to take your eye-off-the-ball or shake you out of a position. Don't let that happen to you in a bull market such as we are seeing in gold and silver.

http://kingworldnews.com/kingworldn...r_Forming_Another_Bullish_Flag_Formation.html