Jim Sinclair still stands by his $50,000 price for Gold. His explanation about the Gold market manipulation deserves very careful attention. According to Jim Sinclair nine entities including one in Russia and one in Singapore - where Jim involved himself - are building now Exchanges with Gold physical delivery settlement. You simply can not manipulate the Gold market in that case like it happen last year when huge amount of "Gold" was dumped in the paper market.
The situation around Ukraine and Russia is very dangerous and this new cold war can become hot very fast. In any case this ongoing confrontation between USA and Russia will have the very far reaching economic complications for both sides. The Petrodollar is the base for US Dollar now, after Nixon has taken it from Gold standard. US Dollar slide below 80.00 is very important, it shifts the entire US Dollar based system. "We are going to war for Petrodollar." Putin does not need any nuclear weapons, he has economic weapons of mass distraction. All he needs to do is to stop accept US Dollar.
We have absolutely seen the double bottom in Gold in 2013. Gold is heading towards $2,000 and at least $1,918 level this year.
We have absolutely seen the double bottom in Gold in 2013. Gold is heading towards $2,000 and at least $1,918 level this year.
Eric Sprott - Gold To See Powerful Bullish "Golden Cross" Within Days TNR.v MUX GDX GDXJ GLD ABX NG
"C.S. Eric Sprott is talking about the "Golden Cross" - the very powerful bullish signal coming for Gold within the next few days. On the chart above you can see the very strong first move of the new Bull market in Gold from the December 2013 low. We are just 2% from 20% increase when media will start talking about the new Gold Bull market being "confirmed officially." As you can see MA 50 is turning decisively Up and is ready to cross MA200 to the upside.
The very important driving forces behind this Gold rally is the record buying from China and the ongoing Gold Manipulation investigations. Eric thinks that all major bullion banks are at risk now and their compliance departments are very busy trying to manage the damage of potential litigation and fines. "The most important here that this process removes the manipulators out of the market. The ceiling is taking off from the Gold price now, they can not continue to manipulate Gold market as they did any more"
You can listen to Eric on the link below and we will run a few charts showing what "Golden Cross" means for particular stocks."
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