A transcript of the July 12, 2012 Precious Metals Market Report is now available to Subscribers!

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From the transcript:

Franklin: Well, I have to admit that last week we got a big jump in both gold and silver, and I really thought, “All right, that’s probably it. That’s probably where they’re breaking out.” And I’m just too anxious. This is summertime. This is the time of the year they make their lows, and both of them are in triangular formations, and triangular formations can be very frustrating because the market bounces back and forth from one side to the other, and it doesn’t do to anticipate a breakout.

You just have to be patient and wait for it to happen. I still think that the low prices for the entire correction – the correction in silver that began a year ago in April, the correction in gold that began a year ago last August – I still think that we’ve seen the low prices for those corrections. I don’t think you’ll see any lower prices. But if you look at the gold chart, if you draw a line from the bottom about the middle of May through the lows, you’ll see that the low that we saw today just comes down to meet that lower boundary of the triangle.

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