Could we see gold rocket above $1,000 in the near future?
*JSMineSet, by Jim Sinclair, October 10, 2007
“The Fed’s comment on the FAKE employment figures as a demonstration of economic strength has resulted in a deceleration of the dollar decline as improved business conditions would imply higher interest rates. The problem is that the employment figures as part of operation ‘White Noise’ are a statistically manufactured fabrication.
Gold is fighting the $751 to $761 area of supply, but will overcome this area and move above $1,000. All of what you are seeing now is funds powered by black boxes running amuck hither and yon with no significance at all. The time for zig-zag is over just as it was in the middle of 1979.
You may sell as a trading fiend, but one day soon gold will take off like a rocket to breach $1,000, most likely without you.
This is the real thing. Sell only if you have a defined need for the cash. Otherwise stand pat and ignore the daily madness.”
*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.