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Published on Gold Anti-Trust Action Committee (http://www.gata.org)

James Turk: Gold is a bargain as it tests 'floor' theory

By cpowell
Created 2010-02-05 05:01

10p MT Thursday, February 4, 2010

Dear Friend of GATA and Gold:

GoldMoney founder James Turk, editor of the Free Gold Money Report and consultant to GATA, may be the first to stick his head above today's carnage in the precious metals futures markets and remark that the metals are now selling at "bargain basement" prices. There is increasing chance of sovereign debt defaults, Turk writes, and not just in Europe. Turk's commentary is headlined "Precious Metals at 'Bargain Basement' Prices" and you can find it at the Free Gold Money Report Internet site here:

http://www.fgmr.com/precious-metals-at-bargain-basement-prices.html [1]

Turk tonight also writes a briefer essay noting that the gold price is testing the theory that India's purchase of International Monetary Fund gold at around $1,050 has put a floor under the gold price at that level. Turk also notes that gold remains well above its 200-day moving average. That commentary is headlined "Gold Is Testing Floor Theory" and you can also find it at the FGMR site here:

http://www.fgmr.com/gold-is-testing-floor-theory.html [2]

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

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Source URL:
http://www.gata.org/node/8299