James Turk: Welcome to Stage 2 of Gold Bull

James Turk is the CEO of GoldMoney and author of the Free Gold Money Report.

Quoting from the commentary:

Gold is now in its second stage, and of course, the worries don’t disappear.  They never do because there are always emotional reactions that at first blush offer seemingly plausible reasons for not taking the right action.  But there is a notable difference in this stage compared to stage one.  Look how many people are writing and talking about gold.  Gold has moved from apathy and neglect – stage one characteristics – to growing attention.  But importantly, instead of embracing gold and analyzing it to determine relative value, today’s attention is one of widespread disbelief and skepticism that gold can climb higher.  These are exactly the responses one should expect to emanate from stage two.

We have been all over this point about sentiment. While the Gartman’s and Roubini’s of the world run their mouths without any in depth examination of the facts, well-known names like Fred Hickey, John Paulson and Marc Faber are busy buying more Gold and setting themselves up for $2000 and $5000 Gold.

James’ full commentary is here.