Does the current gold market present an opportunity?
*JSMineSet, by Jim Sinclair, April 7, 2008:
"Downward Economic Spiral Gains Momentum Faster Than Expected
Whatever is required to prevent any financial entity from failing that
would add to the domino effect of the proper valuation of OTC credit or
credit default derivatives will be provided.
Interest rates will fall if required to practically zero in order to
maintain the social order. This maintaining of the social order is the
basic premise upon which spin through plausible denial or wrongdoing in
fabrication is based.
We wish the best to the Federal Reserve and Bernanke as the alternative
is too ugly to imagine.
I caution you to acknowledge there are CONSEQUENCES. The CONSEQUENCES
are unavoidable as the world embarks on a strategy of attempting to
inflate the damage done by OTC derivatives away.
All of this will pay out in front of your eyes in the US dollar and
therefore in gold and any other commodity in short supply.
The argument now taking place between the experts on what will happen
is a waste of time as the US dollar will communicate the answer.
Right now the Gold Cherubs to pay attention to are:
* $900
* $961
* $985
* $1024
These levels will work in the same manner as Fibonacci support and
resistance.
The present action in gold is excellent in building a base for a run
into the middle $1000s."
*This information is solely a highlight of the opinion of a third-party publication and is incomplete. Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
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