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Should I continue to accumulate metals considering the $682 gold possibility?

*Jim Sinclair's MineSet, by James Sinclair, May 2, 2006

“$682 is formidable resistance and logic says it would cause gold to rest. To answer your question of what a quick fall of $682 means: $887.50 sooner than expected.

All of what has just happened is putting a granite foundation to my expectation of $1650. Since you are an investor that is the most meaningful thing to you. Don’t focus on $682 as gold is going to and through that number.

The gold price is totally out of the hands of the old gold gang. They are committed and in the bleachers doing waves but neither buying nor selling. The transition of gold to the international investment banks has occurred and this is reminiscent of 1978 price-wise.

Gold has a strong possibility of going ballistic and that depends on geopolitical events and the price of energy. Ballistic into $682 simply asks “Where is Management?”

It is not in the flip-flop Fed or the Treasury. The price of gold began to smell this when $529.40 fell to the bull. It was confirmed at the breakout above $612, an even that also declared $1650 is coming.

Let the hotshots play trader. Sit tight and take it here day by day.”

 

“$682 is formidable resistance and logic says it would cause gold to rest. To answer your question of what a quick fall of $682 means: $887.50 sooner than expected.

All of what has just happened is putting a granite foundation to my expectation of $1650. Since you are an investor that is the most meaningful thing to you. Don’t focus on $682 as gold is going to and through that number.

The gold price is totally out of the hands of the old gold gang. They are committed and in the bleachers doing waves but neither buying nor selling. The transition of gold to the international investment banks has occurred and this is reminiscent of 1978 price-wise.

Gold has a strong possibility of going ballistic and that depends on geopolitical events and the price of energy. Ballistic into $682 simply asks “Where is Management?”

It is not in the flip-flop Fed or the Treasury. The price of gold began to smell this when $529.40 fell to the bull. It was confirmed at the breakout above $612, an even that also declared $1650 is coming.

Let the hotshots play trader. Sit tight and take it here day by day.”

 


*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.

Aftershock Investor