Jim Sinclair – Central Banks Buying Gold As Part of the Cure
April 2, 2012
Today legendary trader and investor Jim Sinclair told King World News the gold market has turned into a coiled spring that will be extraordinarily explosive on the upside. Sinclair also said that central banks have been aggressively accumulating gold because it is going to part of the monetary solution. But first, here is what Sinclair had to say about the gold market: “The attempt to keep (the gold market) from moving higher, creates, by nature, a spring, a coil as it were in markets. If the spirit of the gold market could have been broken, it certainly would have been broken down at the $1,500 level. This thing is turning into a spring, into a coil, and when it goes it’s going to be something to behold on the upside. Both in the shares and in gold itself.”
Jim Sinclair continues:
“When you feel the worst, when you get to the point where you say, ‘I can’t take it anymore,’ toughen up. Everything that you are doing you are doing for good, right and logical reasons.
Markets are not necessarily illogical. They can’t hold the negative trend against the fundamentals, as long as they have, without great change coming, almost a transformation. It will take place in the gold shares and it will take place at a much higher price….