Jim Sinclair is not only known for his nick name Mr Gold, but also for encouraging people with its down-to-earth but wise words. His fundamental belief for a very long time has been that the price of gold would go much, much higher, not excluding it could reach $ 12,000. During that fantastic journey, two price points would be key pivot points: $ 529 and $ 1764. Both prices would mark the transition to a new phase in the long term gold bull market. What’s remarkable is that Jim Sinclair made these statements and mentioned those price points before the start of the bull market. Up until now, he has had a perfect track record.
Yesterday he published on his website JSMineset.com his thoughts in a simple and clear way. In terms of future price action: gold is going through the $ 3,500 price level. In terms of today’s price action: the gold price is manipulated via the paper market. But he encourages people to set emotions aside, as the same pattern and price manipulation has repeated over and over again. His message in one line: stay with your conviction and the long term fundamentals of gold, they have not changed no matter what the gold price is doing on a short term basis.
- The entire reason that I launched into the explanation of spread trading was to demonstrate how it is used to manipulate markets.
- Recognizing the multiple blocks at $1775 and $1800, it was obvious a line was being drawn in the sand.
- In that market situation a reaction was reasonable to anticipate.
- I wanted to drive home to you the fact that all the market drama as seen today is manufactured by the gold banks.
- QE cannot stop or the economic implosion would blow up your computer screen.
- If some nitwit Chairman tried to stop QE you would have a few days of dollar strength followed by a collapse of the currency based on the economic implications.
- Then gold’s highest possible estimates would come into focus as the downward spiral already in place in the Western world did in fact present itself as a black hole.
- The event horizon to a total collapse is QE to infinity, as was anticipated.
- QE’s focus is to prevent financial balance sheet collapse both privately and publicly internationally.
- Jobs are only created the way Roosevelt did it, and that was by Federal invention of jobs if required when conditions are as they are now. Remember the conservation corp and all the make-work jobs that were invented in the 30s?
- The thought that any candidate can change the present situation is intellectual garbage of those who do not even know there is economic law. Once violated, those laws brings consequences.
- This, like all reactions, will be completed when it is completed, and that will be soon.
- You could see the spread cartel working all day.
- Do not be stampeded into turning over your gold investments to the greedy shorts now open mouthed and waiting like a wolf for its prey.
- Simply ignore this, taking my hand in the knowledge that this is no different from the many similar plays made by exactly the same people all the way from $248 to the $1900s.
- Email me if you are confused or simply need my help.
- I will personally return your communications, answering your questions.
- Gold is going to and through $3500 and those that find this humorous are the same people that laughed and scorned me at $529.40 when I told you that the very long term breakout had occurred, the strongest magnet among all was $1650 and gold would trade there and above.