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Bullion Banks Could Send Gold Prices to $3,500 – $12,400 says Jim Sinclair
Sunday, October 21, 2012 14:27
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Bullion Banks Could Send Gold Prices to $3,500 – $12,400 says Jim Sinclair
Posted by Charleston Voice
Posted on 21 October 2012
‘Mr. Gold’ of the 1970s, Jim Sinclair, the one-time adviser to the Hunt Brothers who cornered the silver market then is flagging up an imminent change in the way the bullion banks manage their spreads, something he feels is inevitable from his own long experience of the business.
In his latest missive, Mr. Sinclair explains: ‘You must note how central banks are either buying or protecting their gold reserve positions now. This is total about face two years ago. There is another change coming which is a replacement monetary system and the need for some asset on central bank’s balance sheets to have positive value, especially in the USA. Soon all that is required is a change in spread management by the gold banks and you will have whatever price the gold banks want from $3,500 to $12,400.’ Finish story>>
