A transcript of the January 12, 2012 Precious Metals Market Report is now available to Solari Report Subscribers!
From the transcript:
Catherine: Okay. Well, let’s start just with the current market and then let’s head into 2011 and take a look at what happened last year.
Franklin: Well, the current market is is that it appears that silver and gold have finished their correction and let me see if I can lay out the significance of this. The whole time from February 2001 to March 2008 was spent in gold making its first leg up. That’s the long slow part of a bull market. So it went from $256 to $1,003, which is roughly a four-fold increase; gave up 30%; went back $705 and then has advanced ever since then from $705 up to the closing high of $1,888 last August. So that leg from 2008 till last August was the first leg of the third leg up, and it was the first small leg of the third leg up. And you see by way of contrast how much more volatile the market is in a third wave and that’s what we’ve seen in the last year.