sinclairLegendary gold trader and leading PM industry advocate Jim Sinclair has just been named Executive Chairman of the new Singapore Precious Metals Exchange (SGPMX).
Sinclair will also chair the Independent Advisory Board established to oversee the transparency and management of the exchange.
If the SGPMX selection of an Executive Chairman is any indication, the new exchange should prove to be much more successful than the short lived HXMEx, which had once been thought likely to take significant market share away from the COMEX and LBMA, but was dissolved only a year after formation.
Full press release from the SGPMX as well as Sinclair’s public letter on his “Mission” at the SGPMX are below:

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Sinclair’s public letter from JSMineset:

My presence in Singapore is a mission for us. Having reported to you the six locations where cash and physical only exchanges for silver and gold were to be established, I did not leave it at that. My staff and I have contacted each proposed exchange in order to determine which of the six held the best promise for the gold market transition phase for price discovery away from paper gold and to physical gold material.


My original interest was to join that exchange on behalf of TRX. That desire transmuted itself into putting my shoulder behind that exchange which offers the global window to the real price of gold. That exchange in my opinion is the Singapore Physical Precious Metals Exchange, headed by CEO Victor Foo.


Too long has gold suffered from trading in its paper form which was originally conceived of and has continued to live as the means of manipulating the paper price of gold for the benefit of the few.


The time is at hand for Free Gold. The mechanism of freeing physical gold from price slavery to paper gold is the present time deletion of future exchange warehouse supply as the real cash price of physical gold exceeds the spot futures paper contract by the cost of shipping, the cost of insurance, and the cost of recasting of Western form 100 ounce gold bars into Asian product demand form.


The reported shipment of one billion in gold recently from the USA to the Rand Refinery in the Republic of South Africa was not junk jewelry form as reported. It was rather in the form of 100 ounce Comex bars being shipped to the Rand Refinery for recasting into Asian product, and was sold mainly in China as gold rose in price.


I was there as a member of the Comex exchange in March of 1980, the last time the Comex board of directors panicked over the threat of the Hunt Brothers asking for delivery of both gold, silver and copper in excess of, or equal to, the then Comex warehouse qualified for delivery supply.


Asian demand for physical gold is now in excess of supply and the declining Comex warehouse supply qualified for delivery. This is the mechanism for the emancipation of Physical Gold from the 41 years of price slavery to paper gold due to the cheap paper mechanism to manipulate the world gold price.


With the present time and predictable need to change the delivery mechanism on the COMEX to cash in order to avoid default on delivery, the reign of paper gold is ending. With this end we have the arrival of physical gold as the new discovery mechanism for the price of gold.


For the transition to take place it is necessary that we have functional global platforms for the trading of physical metals between peers of merit and a transparent price for global physical gold that exists nowhere for even professional public consumption.


There has been a clarion call from the long suffering holders of gold shares and investment gold for the Chief Executive Officers of gold companies to identify and take definitive action to end the slavery of the gold price to the mechanism of manipulation, the paper gold market. The advent of global platforms for and the true revelation to the gold public of the real gold price, the physical cash price on a 24 hour basis in the answer.


The cost of trying to manipulate this public physical price wherein delivery must be immediately made or payment presented immediately in full makes it too expensive to manipulate the gold price on a consistent basis. The paper gold market cannot move far away from the real physical price when the real physical price is globally known. Therefore to manipulate price the tricksters will have to participate on the physical exchanges thereby increasing their cost of their operation by orders of magnitude. That huge increase in the cost of moving price at will is the beginning of the end of paper gold ruling the physical gold price. That substantial increase in the cost of operation is the beginning of the physical gold market taking the position as the true discovery mechanism for the global price of gold. It is the beginning of the end of the reign of paper gold.


We CEOs of gold companies owe our stockholders economic production and all of our efforts to defeat the plans of the tricksters and their paper machinations that cost near to nothing and results in gold moving such as $1900 to $1200 when the true demand for physical over ground gold was on the rise and not on the fall. Where demand exceeded supply as paper gold was forced by bullies down from $1900 to $1200. This dichotomy in price is only viable via paper gold manipulation and must end here and now. To that object of “Free Gold” and the economic production of gold, I dedicate all my strength, all my contacts of 53 years in the business, all my knowledge of how to, and my capital.


Respectfully yours,
Jim Sinclair

Official news release via Business wire:


Singapore Precious Metals Exchange (SGPMX), the world’s first physical precious metals exchange with peer-to-peer bullion trading capabilities, today announced the appointment of precious metals specialist, Jim Sinclair, as Executive Chairman of SGPMX. It also announced the establishment of an Independent Advisory Board chaired by Jim Sinclair to oversee the transparency and management of the Exchange, as well as to develop education and advocacy programmes around physical bullion and wealth storage.

Independent Advisory Board members of Singapore Precious Metals Exchange’s Independent Advisory Board include former CEO of Kuala Lumpur Stock Exchange (Bursa Malaysia Berhad), Dato Yusli Yusoff, President of McMillan Woods Global, Dato Raymond Liew, prominent lawyer Ranjit Singh, and experienced commodities trader, Peter Mickelberg.

Jim Sinclair said, “I believe the U.S. economy is headed for hyperinflation and the alternative to currencies is precious metals. But it’s physical gold and not future gold that we should be looking at. And personally, I predict that emancipated physical gold price from future gold price will go up from US$3,200 to US$3,500 an ounce by 2016.”

“I’m a firm believer of the Singapore Precious Metals Exchange’s business model and am confident that the platform addresses bullion trading challenges faced by traders, financial institutions and personal wealth investors like myself. By unifying buy, store, trade and transport elements under one platform, SGPMX will easily position itself as a catalyst for Singapore to achieve its goal as a trading hub for precious metals in Asia Pacific,” Sinclair adds.

Victor Foo, CEO and founder of SGPMX said, “As part of the company’s long term growth strategy, we have invited industry specialists and experts from various fields to form the Advisory Board. With each member’s expertise, we are confident that they will not only value add to the management of the Exchange, but also drive the bullion industry forward with the initiatives in the pipeline.”

Bios of Members of the SGPMX Advisory Board

Jim Sinclair, Executive Chairman of SGPMX

Sinclair is a precious metals specialist, commodities and foreign currency trader. He was the Chief Executive Officer of Northwestern Basemetals Company Limited since 2012. He has authored three books on precious metals, trading strategies and geopolitical events, and their relationship to world economics and the markets.

Dato’ Yusli Yusoff, Member

Dato’ Yusli Yusoff was the CEO of Kuala Lumpur Stock Exchange (Bursa Malaysia Berhad) from 2004 till 2011. Currently, he sits as an Independent Non-Executive Director on the Board of Directors of a few public listed companies, including YTL Power International Berhad, Mulpha International Berhad, Mudajaya Group Berhad, Air Asia X Berhad and Westports Holdings Berhad.

Dato’ Raymond Liew, Member

Dato’ Raymond Liew is the President of McMillan Woods Global, an independent member firm of McMillan Woods Global network. He is also a Trustee of the Malaysian Accountancy Research & Education Foundation and is a Council member of the Chartered Taxation Institute of Malaysia (CTIM).

Ranjit Singh, Member

Ranjit is a general litigator with vast experience and appears regularly in the High Court and Federal Court of Malaysia. Besides representing and advising public listed companies and professionals, Ranjit also acts as counsel to the Malaysian Bar’s compulsory insurance scheme.

Peter Mickelberg, Member

Peter Mickelberg is a financial analyst and trader who has specialized in precious metals and mining equities. He is currently a communications consultant to Mr Sinclair and his company, Tanzanian Royalty Exploration Corporation.

About Singapore Precious Metals Exchange (SGPMX)

Established in August 2011, SGPMX is the world’s first physical bullion exchange established for investors, traders and institutions to trade physical precious metals like gold and silver with physically backed bullion storage facilities. It provides consolidated offerings for customers to buy, sell, store and exchange precious metals under one platform, and is privately held and independently funded.



for Singapore Precious Metals Exchange (SGPMX):
The Hoffman Agency
Jacintha Ng, +65 6361-0250
[email protected]


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  1. I gave my commentary on pink tie wearing fancy lad last post. Now it’s time for washed up, I fold my hands under my chin in front of my pile of gold, with my gold cufflinks sweet boy. Who poses for a picture with his hands folded under his chin? I tell you who- Mr SweetBoy. Until these millionaire(legends???) start coming up with some specific recommendations and time predictions that pan out for the little guy whose trying to survive in this world, I’m going to continue to question their intentions. Bring on the next guru!!! Cheers.

  2. Gold is going down folks, when this crook Jim Sinclair pumps like this, it means it is going down.
    Last time in 2008 he did the exact same thing he’s doing now just before the 2008 crash, he got together with CEOs to end the manipulation of gold shares, and it was a sure thing that the shorts would be destroyed and the shares would be freed from the manipulation, rings a bell? sure , but the shares got destroyed instead and we never heard 1 word from Sinclair and his organization that was supposed to end the shares manipulation again. Well folks, he’s saying the same thing now about freeing gold, so watch out bellow, he’s pumping gold before it sinks. 
    This guy is a crook, he’s the devil himself, follow him at your own risk.

    • The funny thing about this… it won’t drain comex stocks unless prices are completely out of whack, too much risk for the seller of gold… buy the time i buy futures, reach expiration, stand for delivery, take delivery, arrange shipment, and deliver to singapore, the price could have dropped significantly, leaving me with a turd sandwich on my hands.  Conversely, I could take delivery in Singapore, sell a paper comex contract for a month or two out, arrange transportation, recast, assays, etc and arbitrage with very little risk.
      Each scenario obviously assumes a spread in prices between the two which may/may not happen, just that the less risky trade is buy at known price and forward contract for a known price, as opposed to buy at known price, haul it half way across the world, hope you can still sell at a higher price.

  3. Good for Mr. Sinclair,
    I wish him all the best in this endeavour, and hopefully this will help the impatient lovers of mammon which fill PM forums.
    Seeing as bigwigs like Mr. Sprott and Eric King respect him, I do too. He knows more than all the commentators here combined.
    Even more than the resident 32nd degree Masons 😉   (PS: Osiris [“Hiram Abif”] AKA the devil, will get smashed by Jesus one day… don’t waste your time waiting for him or invoking his spirit in the Temple Room in Washington DC … yes people, look up the Temple Room ceremonial … bad stuff… the real nasty weirdos are the Shriners…. old creepy occultists)

    • I gotta throw out one last comment about “I’ve been flying around the world bustin my ass stayin at The Ritz spreading the word for 50 bucks a head Sinclair fancylad”. Monday morning, carry that $200 tie and gold cufflinks down to the trading pits along with a dozen of your buddies and buy a billion in physical silver for the team. End the fraud now and wipe out the scum that is tanking our country. Do it. I double dog dare you. Cheers.

  4. fROM J S MINESET: We CEOs of gold companies owe our stockholders economic production and all of our efforts to defeat the plans of the tricksters and their paper machinations that cost near to nothing and results in gold moving such as $1900 to $1200 when the true demand for physical over ground gold was on the rise and not on the fall. Where demand exceeded supply as paper gold was forced by bullies down from $1900 to $1200. This dichotomy in price is only viable via paper gold manipulation and must end here and now. To that object of “Free Gold” and the economic production of gold, I dedicate all my strength, all my contacts of 53 years in the business, all my knowledge of how to, and my capital.
    Respectfully yours,
    Jim Sinclair

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