Barron's (Subscription required)
By Sandra Ward
9 September 2002
An Interview With James Turk - Gold appears to have broken out of its longtime funk. But is the move just a flash in the pan or something more substantial? For an answer, we turned to one of the more obsessed gold authorities we know, James Turk, publisher of the Freemarket Gold & Money Report newsletter and founder and managing director of GoldMoney.com, a company striving to make the metal the currency of choice in global commerce, especially in cross-border transactions. An international banker and manager of the commodity department for the Abu Dhabi Investment Authority for much of the 'Eighties, Turk spent most of the 'Nineties providing strategic advice and forecasts to investment managers. To learn why he thinks gold is on the cusp of a new bull market and which stocks he's focused on, please read on.
Barron's: Gold has had quite a run. What can we expect going forward?
Turk: The move we had earlier in the year was so good, we were bound to see some consolidation in July and August, which is normally a quiet time of the year for gold, anyway, and that's what we got. Now, my expectation is we will test resistance at the $325-an-ounce threshold again in either September or October. I believe $325 will be crossed this year and that will mark the beginning of the bull market in gold.
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