Sinclair has spoken. So is gold about to tank?

[Defender]

While he didn't exactly say "This is it!" the meaning is clearly in his article. So, is the difference significant enough to mitigate the otherwise certainty that gold will go down?

(note: there is only a short-term correlation, a sort of reverse-silver sammy if you will. All of Sinclair's long-term prognostications have been or are being borne out. It's only his 'this is your last chance to buy' calls that have, shall we say, fallen short.)


Stay the course. We are a few days from a stratospheric takeoff in the price of gold.
Rest of article at: http://jsmineset.com/2010/04/17/the-weakness-in-gold-that-isnt/

[KumbayaMan]

I've actually been enjoying the delayed launch of metal prices... gives me more time to buy bullion before the rockets! ;D


Agreed, I hope it's pushed down further in the short term...
With this years tax refund I'll be itching to buy on a good dip. ;)

[gunDriller]

I've actually been enjoying the delayed launch of metal prices... gives me more time to buy bullion before the rockets! ;D


yeah, i thought the markets were on the brink of an "LTCM moment." actually, i still do.

at the time of the LTCM failure in 1998, they had a short position of 400 tons of gold. that fact was thoroughly censored from all media reporting of the event.

it did cross my mind that some of the articles at King World could have been fakes, designed to scare people into demanding physical.

but they seemed very real to me. Maguire, Harvey & Lenny Organ, Bill Murphy, the other GATA guy, and Mohammed Rafeeq & Daryl Bradford Smith have all done some great reporting in their various interviews.

a leverage ratio of up to 100:1 in a $5.4 Trillion market, with massive naked short positions - on gold ?

this is the 21st century, that tank could easily turn into a rocket !

especially considering that China is re-valuing their currency UP relative to the US dollar in the May-June time-frame. or at least talking about it. gold will be that much more affordable for them. to them, the US $ is like a lire or a peso.