Asheron Posted April 25, 2012 Share Posted April 25, 2012 On the heels of of the disclosure that China will buy oil from Iran using gold, legendary trader and investor, Jim Sinclair, told King World News that the massive paper gold shorts are now trapped and may see gold gap up to $3,000 if a vacuum in the physical market develops. Sinclair described this event as “historic.” But first, here is what Sinclair had to say about the recent trading action in gold: “You have seen in the last month, a phenomena. If you have eyes in your head, you have to know when the gold banks enter into the gold market, offering more for sale than would be mined in the next five years, they are not in there to sell anything. They are in there to manipulate the price.” Jim Sinclair continues: “Well, we’ve seen some V-bottoms during daily operations, where they (manipulators) have forced gold (down) and it just snapped right back. There is no question, it is a matter of record, that multiple central banks around the world have been large buyers of a significant amount of gold in the last two months. As the paper speculators attempt to manipulate the price lower, they have run into the physical buyer who won’t let the physical market follow the paper market. Who is giving gold a chance here? Who’s talking positively about gold, except a very few? (Listening to Martin) Armstrong and financial TV, you would imagine that gold didn’t have a chance. Yet every time the manipulators come in to reduce the price they are running into significant physical buying.... Continue reading the Jim Sinclair interview below... http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/4/24_Sinclair_-_Shorts_Now_Trapped_%26_Gold_Could_Gap_Up_to_$3,000.html Quote Link to comment Share on other sites More sharing options...
Take Me Back To London! Posted April 25, 2012 Share Posted April 25, 2012 “Well, we’ve seen some V-bottoms during daily operations, where they (manipulators) have forced gold (down) and it just snapped right back. There is no question, it is a matter of record, that multiple central banks around the world have been large buyers of a significant amount of gold in the last two months. As the paper speculators attempt to manipulate the price lower, they have run into the physical buyer who won’t let the physical market follow the paper market. Who is giving gold a chance here? Who’s talking positively about gold, except a very few? (Listening to Martin) Armstrong and financial TV, you would imagine that gold didn’t have a chance. Yet every time the manipulators come in to reduce the price they are running into significant physical buying.... The 10,000 yuan level ($1587) is the one to watch, IMO, gold could go into the mid/high $1,500s, but gets quickly pushed back higher with conviction. Quote Link to comment Share on other sites More sharing options...
R K Posted May 2, 2012 Share Posted May 2, 2012 The same Sinclair who had lunch with big players in the gold market who all told him gold price would rocket on an 'event' mid-March to $2100? Another in his long list of fails. Hope nobody actually puts money down on your posts! Quote Link to comment Share on other sites More sharing options...
Errol Posted May 6, 2012 Share Posted May 6, 2012 (edited) Another in his long list of fails. LOL! Sinclair predicted $1650 gold 10 years ago and put his money where his mouth is. This was an astonishing call - possibly one of the greatest ever. Anyone following his prediction in size would have made 4-5+ times their money. He's probably the most successful gold trader of his generation, has owned numerous brokerages/clearing houses etc. What are you credentials? Edited May 6, 2012 by Errol Quote Link to comment Share on other sites More sharing options...
Errol Posted May 6, 2012 Share Posted May 6, 2012 (edited) Good interview with Sinclair here - http://www.futuresmag.com/2012/05/01/jim-sinclair-has-something-to-say Sinclair has had a love affair with markets for 50 years. He has owned brokerages, clearing firms, mining companies and a precious metals dealer. His Sinclair Group of Companies, founded in 1977, offered brokerage services in stocks, bonds and commodities operating in New York, Kansas City, Toronto, Chicago, London and Geneva until he sold them in 1983. At one time he was considered the largest gold trader in the world Edited May 6, 2012 by Errol Quote Link to comment Share on other sites More sharing options...
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