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Why is evidence of a weakening economy pushing gold higher?
*Jim Sinclair's MineSet, by James Sinclair, November 1, 2006
“Gold is now set up for $630 -$650 – $682.”
“My take is simple. It is becoming evident the US economy, which has rolled over, is now accelerating on the downside. This is impacting the common stock of the USA which is the US dollar. That in turn is increasing the interest in gold which is heavily shorted. Gold is going to $682 and may well make a new high before another serious reaction on its dramatic way to four figures.”
*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.