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Silver Bug Profile: James Turk

JP Buntinx
July 17, 2020

Of the many precious metal investors out there, James Turk is one of the individuals worth keeping an eye on. He has built up a solid reputation as a silver bug, and continues to share his opinion on the financial market as a whole. 

The Storied Career of James Turk

One isn’t simply born and destined to be active in the financial sector.  For James Turk, that is the case as much as anyone else, although his career is quite storied. More specifically, he has specialized in international banking, finance, and investments since 1969. That represents roughly 50 years of experience, which should never be ignored. 

Previous employers include The Chase Manhattan Bank, multiple trading and investment companies, as well as the Abu Dhabi Investment Authority. Throughout those tenures, he has also worked in many different countries, such as Thailand, Hong Kong, the Philipps, and the UAE. By working in those regions, Turk has been able to gather a lot of insights into how local markets work, and which shortcomings they might face. 

Ever since retiring from his last position in 1987, James has been able to keep himself busy. Not only has he worked on The Freemarket Gold & Money Report, but also wrote several books. Noteworthy volumes include SOCIAL SECURITY Lies, The Illusions of Prosperity, and Myths and Reality.  He is also the founder of GoldMoney.com, and he holds two US patents for digital gold currency. 

James Turk on Silver in 2019

It is interesting to note how the silver market sentiment of James Turk hasn’t changed in the slightest between 2019 and 2020. About a year ago, Turk was confident that people were finally waking up to the concept of a major gold bull run. At the same time, the overall interest in gold would help push silver prices much higher. 

According to James, he became bullish on silver after learning about some new geological surveys. Additionally, he began paying more attention to the silver-gold ratio, which was leaning toward the cheaper metal at the time. Although things certainly have changed ever since, but overall sentiment still holds true today.

In fact, Turk identified a trading chart pattern known as the cup and handle formation. However, this one was playing out on a much longer scale, as it goes from early 1975 all the way to July of 2019. Looking at the bigger picture is always crucial when dealing with long-term investments. This may have been one of the longest plays in history,  but the cup and handle came true in the end, as the silver price has gone through a decent price spike.

James Turk on Gold & Silver in 2020

In late January of 2020 – in a time when the coronavirus wasn’t an issue yet – Turk predicted how both gold and silver would hit new highs sooner rather than later.  That vision certainly came true with a bit of help from a new pandemic, and weird actions by central banks all over the world. However, the momentum was already leaning toward a bullish precious metals market regardless.

Surprisingly, Turk also referred to other precious metals going through a similar trend. Even the palladium chart was shared, which is a metal that most people tend to overlook. Turk eventually predicted a gold price of over $1,600 and a silver value that would leave $18.5 in the dust. Both of these have come true, and it would appear that this may only be the beginning of what is yet to come. 

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