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 an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. 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.
For 50 years, Monex has been America's trusted name in gold and other precious metals. With client transactions now totaling over $55 billion, Monex Deposit Company, established in 1987, is today America's premier precious metals dealer because of our dedication to customer service and satisfaction.