I am in London this evening in my room posting as much serious material as possible to help you understand the new nature of gold; a nature fraught with unprecedented volatility. I will deliver my presentation tomorrow. Right now we have to talk.
Gold from $248 to $524.90 was an arithmetic uptrend based on a re-birthing of gold's currency roll.
When gold broke out above $524.90 I asked you to please cease trading as gold had moved from phase 1 into a runaway price phase 2. It is this phase which has given you prices in excess of $1650.
$1764 has the same significance as $524.90 because it represents phase 3, the point when a runaway price market for gold would gain exponential properties.
Because $1764 is such significant a number you can expect one of the more serious price battles before the price departs to Alf Fields' and Armstrong's higher potentials.
To sum up the situation you haven't seen anything yet.
As strange as it sounds right now, soon you will begin to see the bearish cabal on mining shares looking for cover where gold will be sold for correct precious metals shares.
Keep the faith. $1650 has been the minimum upside since $248, not the most likely top.
Thursday, 4 August 2011
Mr. Gold - Jim Sinclair, We will Soon enter Phase 3 in Gold