Jim Sinclair: Shorts Now Trapped & Gold Could Gap Up To US$3,000/oz!
- Don’t be too concerned with the manipulation of gold/silver prices by the bullion banksters. It is very discouraging. But the physical market is overwhelming these paper shorts on the Crimex. Just do not buy anything using leverage and stick with physical.
Sinclair – Shorts Now Trapped & Gold Could Gap Up to $3,000!
On the heels 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.”
“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 significant buyers of a significant amount of gold in the last two months.
The physical market is overcoming the paper market, and gold is being used in huge amounts by a giant (China) in international commerce, in commercial settlement. That’s news. This is something that will go down in the history of gold, that very few have properly analyzed or understood at the present time.
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