Gold’s Soaring Price Predicted To Reach $10,902: A Market Veteran’s Bold Forecast

• • James Turk, a 53-year market veteran, predicts gold prices to soar to $10,902, driven by unprecedented market conditions and a severe shortage of physical gold.

• • The gold market is experiencing a historic short squeeze, characterized by delays in physical metal delivery and a shortage of available gold to meet delivery promises.

• • The current situation mirrors the 1930s trend of individuals and institutions moving their purchasing power from banks to physical gold due to declining trust in financial institutions.

• • Turk anticipates a significant price surge in silver, potentially more dramatic than gold, due to tighter physical silver availability and smaller market size.

• • Turk advises investors to continue accumulating physical precious metals through dollar-cost averaging, emphasizing the undervaluation of both gold and silver in the current market.

Article by Willow Tohi, republished with permission from Naturalnews.com

In a stunning prediction that has sent ripples through the financial world, James Turk, a 53-year market veteran, has declared that the price of gold is poised to skyrocket to a jaw-dropping $10,902. This forecast, shared with King World News, is rooted in the unprecedented and historic conditions currently unfolding in the gold market, particularly the ongoing short squeeze and the scarcity of physical metal.

The unprecedented short squeeze

The new year has brought a bang for gold and silver bulls, with the market showing no signs of slowing down. Turk emphasized the significance of the ongoing short squeeze, a phenomenon that is receiving considerable media attention. “The new year has opened with a bang, and I expect the good news for gold and silver bulls to continue—provided you own physical metal,” Turk stated.

Traditionally, short positions in gold and silver are delivered on or near First Notice Day (FND), a date announced by Comex years in advance. It is generally advantageous for shorts to deliver as soon as possible to free up funds and reduce storage costs. However, recent delays in physical metal delivery are raising eyebrows. “The delays to deliver physical metal—several weeks, according to news reports—are not normal. But it is not tariffs that are causing these distortions in my view,” Turk explained.

The core issue, according to Turk, is the vast number of promises to deliver gold that far exceed the available physical metal. This imbalance is causing significant disruptions. “Consider this comment in London’s Financial Times: ‘The flow of physical metal out of London to New York is causing disruption to the gold market, and has increased the cost of borrowing gold.’ This sentence highlights the severity of the situation,” he added.

Historical context and market dynamics

To understand the gravity of this situation, one must look back to the 1930s when people moved their purchasing power from banks to physical gold as trust in financial institutions waned. The current market dynamics echo this historical trend. “The fractional reserve system of more gold promises than existent physical metal is contracting,” Turk observed.

The situation is exacerbated by the fact that physical metal is being held by strong hands—individuals and institutions unwilling to lend their gold even at high interest rates. “Banks can create dollars when they make a loan, but they cannot conjure up physical gold and silver. So metals have to be borrowed from existent stock, and the shorts are discovering that physical metal is being held by strong hands unwilling to take the risk of dealer defaults,” Turk explained.

This scenario is not without precedent. In 1985, Volume Investors failed to deliver cash on a margin call, leading to its collapse. However, the current situation is far more widespread and could have broader implications. “The shorts have a serious problem that is apparent in this gold chart,” Turk noted, referring to the sharp rise in gold prices from

1,800 to 2,900.

The silver market: A rocket ready to launch

While gold is making headlines, silver is also on the cusp of a significant price surge. “I expect a similar rocket in silver, and probably a steeper ascent because its market is smaller and the availability of physical silver is even tighter than gold,” Turk predicted. He anticipates that silver will reach a weekly spot price close above $32, a level that is tantalizingly close and could be achieved soon.

Strategic advice for investors

For those who have been following Turk’s advice to accumulate physical metal through dollar-cost averaging, the strategy remains unchanged. “Both precious metals are undervalued in my view, as we can see in this gold chart,” he said, referring to a chart that compares the monthly gold price to historical levels. The chart indicates that gold remains undervalued, particularly if central banks have less gold in their vaults than they report.

Turk’s forecast of $10,902 for gold is based on several factors, including the scarcity of physical metal, the increasing geopolitical unrest and the lack of new large gold deposits. “Gold at its previous high of $850, adjusted for inflation, puts the gold price at $2,000 plus. Geopolitical uncertainty, such as a nuclear Iran, and the growing demand from countries like India and China will drive gold prices higher,” he explained.

In conclusion, the gold market is on the brink of a historic shift, driven by a combination of supply constraints, strong demand and geopolitical tensions. Turk’s bold prediction of $10,902 per ounce may seem audacious, but the current market conditions suggest that it is not out of the realm of possibility. For investors, the key is to remain informed and prepared for the potential volatility that lies ahead.

This news article not only highlights the current market dynamics but also provides historical context to underscore the significance of the ongoing changes in the gold and silver markets. The insights from a seasoned market veteran like Turk offer a compelling perspective on the future of precious metals and the broader economic landscape.

Sources include:

KingWorldNews.com

SeekingAlpha.com

RELATED:

The ONLY Two Gold Companies I Proudly Partner With

The ONLY Two Gold Companies I Proudly Partner With

Gold is currently sitting at All Time Highs as I write this (and has been for weeks), so I thought it might be a good time to revisit this and make sure you had this information handy.

In the midst of covering politics, we also cover money from time to time...and while I'm not a financial advisor, I share what I'm learning in the hopes that it can help you and keep you and your family safe.

And that often leads me to covering Gold and Silver.

You know, what they have always called "God's Money".

He made it, they aren't making any more of it, and it has always been highly valued as money from the beginning of time until now.

So I'm a big fan and I think it has the potential to do big things if, say, the U.S. Dollar were to suddenly collapse.

So that's why I talk about it and why I want to make sure everyone protects themselves and your families.

So to answer the question of "what can I do?" it's really quite simple: you need to get some #Gold or #Silver in your own possession.

It's called "physical" gold and silver.

Not paper traded garbage on the stock exchanges that isn't backed by anything.

Don't touch that stuff.

And because I get asked so much how to buy it and what the best places are, I thought I would publish this and just get it out there for all to have....

I have two special hook-ups for you and these are the ONLY two companies I am proud to partner up with on Gold and Silver.

Both involve PHYSICAL gold and silver.

Because if you do NOTHING else, make sure you own "physical" gold and silver, not paper contracts.

The paper contracts (like stock ticker SLV and GLD) could very well go POOF one day and disappear or go to zero, because they're not actually backed by the gold and silver they claim to represent.

It's a massive game of musical chairs out there and when the music stops (and I think it will stop soon...) people who only own paper might find themselves owning something not worth the paper it's literally written on.

And I know you'll never forget it if I give you this GIF so....Let's Get Physical:

Now...WHERE do you get physical gold and silver and how do you know it's real and safe?

And that you're getting the best price?

Oh, and how about personal one-on-one real customer service?

You know, like you were some Big Wig millionaire at Goldman Sachs who could just call their personal banker and get help?

That's what I'm about to tell you.

I have two killer connections for you...

1️⃣ The first is for purchasing gold and silver bullion, bars and/or coins.

You may recognize Andy Schectman from Miles Franklin.

He's prolific on YouTube and just a brilliant guy, I've followed him for years.

I've partnered up with Andy's company, Miles Franklin, and I'm really excited to show you what they can do!

In fact, Andy's going to be coming on my show, the Daily Truth Report (follow us on YouTube and Rumble) in the future, and you're going to want to make sure you don't miss those.

Andy is a wealth of knowledge about the precious metals markets and crypto, and I've covered him here many times in the past.

Now I'll get to chat with him myself, and I'm really looking forward to it.

I'm spoken directly with Andy and his team and they have assured me they will take very good care of anyone in the WLT Report family (that's you!).

At Miles Franklin, everyone gets personal attention from their team of brokers and you'll get whatever level of hand-holding you prefer.  They'll also customize a deal just for you, but you have to call them and tell them NOAH sent you!  They'll handle it from there.  1-952-929-7006

There is no minimum order size and no maximum limit.

I think you'll love working with them, I already do!

You can reach them at 1-952-929-7006 and make sure you let them know that Noah sent you over, they've promised me the best of the best service and pricing for everyone in the WLT Report family.  🙌

That's the cheapest and most economical way to do it, to stretch your dollar into as much gold and silver as possible.

You'll get a personal phone call with one of their top brokers, personalized, white glove concierge service at no extra cost to you....whether you're buying $500 or $50,000, they'll treat you the same.

How about that!

No sales pitch, just real, actual help.

And the best prices you will find.

Ok, that was #1.

Now I want to tell you about option #2.

2️⃣ An equally great company, I am so happy to be working with these guys is Genesis Gold.

This is for people who want to purchase real physical gold or silver in their IRAs (Investment Retirement Accounts).

You know what the beauty of that is?

Two huge benefits actually...

First is TAX FREE baby!

I'm not a tax advisor, but that's a general oversimplification.

Never pay more taxes than you are legally required to pay.

And that's why I love getting gold and silver in my IRA (and why I hold a large chunk in an IRA myself!).

Second is if you simply shift money out of stocks (like Peter Schiff recommends) and into Gold, it won't cost you anything!  No money out of pocket!  

BOOM!

There's so much to love about Genesis Gold, starting with the fact they are proudly and un-ashamedly Christina!

They call it "Faith-Driven Stewardship" and they put it right on the homepage of their website along with a quote from Ezekiel:

Wealth Preservation With Gold & Silver –
The Genesis Gold IRA

By your wisdom and your understanding you have made wealth for yourself, and have gathered Gold and Silver into your treasuries – EZEKIEL 28:4

Genesis Gold Group believes the Bible gives clues on how man-made currencies (paper money) represent instability, and a lack of virtue and encourages living wastefully in excess.

Conflicts have beleaguered us since the dawn of civilization, and they can all be encapsulated into one battle. The battle is between currency, man-made paper, and gold and silver — the two precious metals found in our Earth’s crust, sent to us by our Lord to use as money. Man-made currency always leads nations down the path to increased war, greed, and ultimate collapse. History has shown that abandoning gold and silver has always been a bad idea. Gold and Silver enforce discipline, nurture self-constraint, self-reliance, and balance, and lead to confidence, a restrained government, and a more stable foreign policy.

Genesis Gold Group believes in empowering faith-driven stewardship with Gold & Silver are an integral part of a balanced portfolio. Protecting your finances with precious metals has never been more crucial during these trying times.

With a combined 50-plus years in the precious metals industry, let your Genesis gold and silver experts guide you through the simplicity of asset protection and growth with our Genesis Gold IRA.

Sincerely,

Genesis Gold Group

Empowering Faith-Driven Stewardship

Here's more on why gold and silver in your IRA are so powerful:

You can contact Genesis Gold here.

They are also very backed up with record demand, so you may have to wait a bit, but someone WILL get in touch with you for personal customer service and assistance!

Tell 'em Noah sent ya!

Oh, and did you know Genesis is recommended by SUPERMAN himself?

It's true.

Superman himself, Clark Kent -- Dean Cain -- came on my show a few weeks ago and we broke it all down:

Watch here:

Stay safe!

Make sure you can weather the storm when it hits!

Because the storm always hits eventually, doesn't it?

As for me and my house, we will be ready. 💪

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