We just received the following email update from the legendary Jim Sinclair regarding gold.
Sinclair states that the 2nd chapter in the growth of gold into reserve currency is complete, and the spectacular 3rd chapter will run into 2015 and see gold hit Alf Field’s and Martin Armstrong’s gold forecasts ($10,000 +).
For those who have not subscribed to Sinclair’s email updates, you can do so here:
I am on the road again. This time it is to speak at the GATA conference in London Friday afternoon.
The key concept in the gold market is that it has in no way performed like a classic blow-off hyperbolic top.
The price travel between $1600 and $1764 is fraught with points of resistance. The price journey in the next chapter founded by the fundamental reasons by Alf Fields and Martin Armstrong will soon be shown as correct.
They will be the predictors of merit.
There is no reason to drop or reduce your gold hedges.
There is as always good reason not to carry any margin in a protective gold spread. Gold will only gain in volatility that will frustrate the greed driven mad margin trader.
Two major chapters in the growth of gold to reserve currency of the people’s choice are completed.
The last chapter is still coming going into 2015 and will be spectacular.
I will be in touch with you from the airport and hotel. I hope to see you at the conference.
The only thing we add is that we expect silver’s volatility to increase even more than gold’s in the next 5 years.
Make sure gold and silver are not an 8 second ride for you, and HANG ON TIGHT TO YOUR PHYZZ!!