The legendary Jim Sinclair has just sent an alert to email subscribers advising that Romney’s statement that he is against QE3 and will fire Bernanke if elected is majorly bullish for gold, and that the statement speaks for ‘huge stimulus fast and an end of the standoff between the Federal Reserve and the US legislative‘.
From Jim Sinclair:
Stay the course! The current pressure on gold shares by hedgies is because Romney says, if elected, he will fire Bernanke and will not want to see QE 3.
Now what impact does that have to have on Bernanke? I would say he now really wants to see Obama elected. That speaks very well for huge stimulus fast and an end of the standoff between the Federal Reserve and the US legislative.
The hedgies hate gold so they interpret Romney’s statement bearishly. In truth it is the opposite, bullish for gold.
Bernanke has been considered good for the dollar up to now as much as that is mistaken.